CALGARY, Nov. 22, 2018 /CNW/ - Crown Capital Partners Inc. ("Crown" or the "Corporation") (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the full repayment by Marquee Energy Ltd. ("Marquee") (TSXV: MQX) of a special situations loan managed by Crown.
In May 2017, Crown Capital Partner Funding, LP ("Crown Partners Fund"), an investment fund managed by Crown in which Crown holds an approximate 37% interest, arranged a $30.0 million, five-year term loan to Marquee. On November 20, the shareholders and optionholders of Marquee approved a plan of arrangement with Prairie Provident Resources Inc. ("Prairie Provident") (TSX:PPR) pursuant to which Prairie Provident acquired all of the issued and outstanding shares of Marquee. The transaction was completed on November 21st, at which time the Crown term loan was prepaid in full, including principal and interest. As part of the prepayment of the loan Crown Partners Fund was granted 4.4 million common shares of Prairie Provident.
About Crown Capital Partners (TSX:CRWN)
Founded in 2000, Crown is a leading specialty finance company that provides growth capital to a diversified group of successful mid-market companies that are seeking alternatives to banks and private equity funds. Crown provides customized solutions in the form of loans, royalties, and other structures with minimal or no ownership dilution. In addition to deploying capital as a principal investor, Crown develops, manages and co-invests in alternative investment funds, including Crown Capital Partner Funding, LP and Crown Capital Power Fund, LP.
SOURCE Crown Capital Partners Inc.
For further information: Craig Armitage, Investor Relations, [email protected], (416) 347-8954