TORONTO, Sept. 13, 2021 /CNW/ - Crown Capital
Partners Inc. ("Crown") (TSX: CRWN), today announced that
Crown Capital Partner Funding, LP ("Crown Partners Fund"), an
investment fund of which it owns an effective interest of
approximately 28%, has received the full repayment by T5 SC Oil and
Gas Limited Partnership ("T5") of its $27.0
million term loan from Crown Partners Fund, of which the
first advance was completed in August
2018.
T5 is a privately held, Calgary-based petroleum and natural gas
company. Crown Partners Fund received aggregate proceeds of
$29.75 million, including the
repayment of the full loan principal plus accrued fees, expenses
and interest, as well as a buyout of the production payment
agreement plus accrued payments in respect of that
agreement. The realized Gross IRR on Crown Partners Fund's
aggregate investment was 16.7%.
"We are pleased to realize on another successful investment for
Crown Partners Fund and further reduce our investment in corporate
financing transactions," said Chris
Johnson, President and CEO of Crown.
About Crown Capital Partners (TSX:CRWN)
Founded in 2000 within Crown Life Insurance Company, Crown
Capital Partners is a leading specialty finance company operating
mainly in the distributed power and telecommunications
infrastructure markets. We focus on alternative asset classes that
require a specialized capital partner, and we aim to create
long-term value by acting as both a manager of investment funds for
institutional partners and as a direct investor in operating
businesses serving these markets. For additional information,
please visit crowncapital.ca.
FORWARD-LOOKING STATEMENTS
This news release contains certain "forward looking
statements" and certain "forward looking information" as defined
under applicable Canadian and U.S. securities laws. Forward-looking
statements can generally be identified by the use of
forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans"
or similar terminology. Forward-looking statements are based on
forecasts of future results, estimates of amounts not yet
determinable and assumptions that while believed by management to
be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies.
Forward-looking statements are subject to various risks and
uncertainties concerning the specific factors identified in the
Crown's periodic filings with Canadian securities regulators.
See Crown's most recent annual
information form for a detailed discussion of the risk factors
affecting Crown. Crown undertakes no obligation to update
forward-looking information except as required by applicable law.
Such forward-looking information represents management's best
judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future
results may vary materially. Accordingly, readers are advised not
to place undue reliance on forward-looking statements or
information.
SOURCE Crown Capital Partners Inc.
