• Powered by Crown Equity Holdings Inc.
      • crown-logo

        Crown Equity Holdings Inc. is publicly traded with the symbol CRWE. The Company primarily provides and offers advertising, branding, marketing solutions and services to boost customer awareness, as well as merchant visibility as a worldwide online multi-media publisher. For list of services offered click here

Post on CRWE World Login
logo Fairfield, UNITED STATES
header-img
  • Home
  • News
  • World
      • World News
      • Español
  • Politics
      • U.S. Legislators
      • Political News
  • Sports
  • Business
      • Markets
      • Hottest Stocks Today
      • CRWEWorld Stocks
      • Blockchain
      • Regulatory
      • Accounting
      • Fundraising Campaigns
      • IPOs
      • Money
      • Career
  • Tech
      • Tech
      • Science
  • Living
      • Arts & Entertainment
      • Family
      • Food
      • Pets
      • Seniors
      • Fashion/Fitness
      • Home & Garden
  • Health
      • Health
      • Pharma & Biotech
  • Opinion
      • Finance
      • Law
      • Healthcare
      • Cannabidiol (CBD)
      • Fashion
      • Podcasts
      • Tech
      • Music
  • Travel
  • Local
      • News
      • Trending Now
      • Real Estate
      • Coupons & Deals
      • Business Directory
  • Jobs
  • More
      • Business 2 Business
      • Press Releases
      • Press Releases Pricing
      • News from GlobeNewswire
      • News from PR Newswire
      • News from Business Wire
      • News from Accesswire
      • Video Channels
      • Beauty
      • Business
      • Comedy
      • Entertainment
      • Fashion
      • Featured
      • Health
      • Instructional
      • News
      • Politics
      • Sports
      • Technology
      • Entertainment
      • Horoscope
      • Sudoku
      • Crossword
      • Games
      • Chat
      • Affiliate | How It Works
      • Join CRWE WORLD Affiliate Program
      • CRWE WORLD Advertising Services Rate
      • Crown Equity Holdings' Overview
      • CRWEWorld Real-Time Global Visitors
      • Content Delivery Solution
        • Contact Us
  • More

Change City


-- OR --
load
load
/assets/img/hottest3.png
/assets/img/hottest2.png

/assets/img/reef2.png
/assets/img/red-line.jpg
/assets/img/reef.png
  • Home
  • Articles
  • News Provided by PR Newswire
21ьз╕ Cweather-icon
/assets/img/hottest3.png
/assets/img/hottest2.png

/assets/img/reef2.png
/assets/img/red-line.jpg
/assets/img/reef.png

Crown Capital Announces Repayment of Petrowest Loan

News Provided by PR Newswire2018-06-20
1 Views

Crown Capital Announces Repayment of Petrowest Loan

 
[20-June-2018]
 

CALGARY, June 20, 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 Petrowest Corporation ("Petrowest") of a special situations loan made by Crown Capital Fund IV, LP ("CCF IV"), an investment fund managed by Crown and in which Crown holds a 36.5% interest.

CCF IV advanced $15 million to Petrowest in September 2015. As part of a financial restructuring, CCF IV and a syndicate partner advanced an additional $12 million to Petrowest in May 2017.  Petrowest was placed into receivership by its creditors in August 2017 and all of Petrowest's assets were offered for sale. 

In November 2017, as consideration for the acquisition of the assets of the Civil division from Petrowest, approximately $19.6 million of the loan was assumed by RBee Aggregate Consulting Ltd. ("RBee"). RBee, which has one of the largest mobile crushing fleets in Western Canada, is now 50% owned by the management of RBee and 50% owned by CCF IV and its syndicate partner.

As at March 31, 2018, the total amount owing by Petrowest to CCF IV and its syndicate partner included $7.4 million of loan principal as well as accrued interest and fees. Subsequent to quarter end, approximately $0.8 million of loan principal was reallocated from the RBee loan to the Petrowest loan due to final adjustments to the purchase price of the RBee assets, resulting in an outstanding principal amount owing by Petrowest to CCF IV and its syndicate partner of $8.2 million.

Since March 31, 2018, CCF IV and its syndicate partner have received aggregate payments in respect of the Petrowest loan of $9.7 million representing full repayment of the principal amount owing, as well as all accrued interest and supplemental fees.  

The realized Gross IRR on CCF IV's aggregate investment in Petrowest was 18.2%.

"We are pleased with our team's effort to recover the full investment in the Petrowest loan. While the liquidation of a company is a disappointing and unfortunate outcome for all involved, we remain committed to delivering superior results for our shareholders and investment partners," said Chris Johnson, President and CEO of Crown. "Separately, RBee is performing well, with strong customer demand resulting in high utilization and favourable operating margins."

About Crown 
Crown (TSX:CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

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 using forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management's beliefs, expectations or intentions regarding the outlook for RBee. 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 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.


Company Codes: Toronto:CRWN


© 2018 PR Newswire. All Rights Reserved.

#content-news .main-news{color:#737373;font-size:14px;line-height:inherit;text-align:inherit}

The news, reports, views and opinions of authors (or source) expressed are their own and do not necessarily represent the views of CRWE World.


Berkshire Hathaway Inc. (NYSE: BRK.A) (NYSE: BRK.B) Reports Fourth Quarter and Full Year 2020



/assets/img/cw-stocks.png

/assets/img/wysh-jewels.png

/assets/img/hjli.png

/assets/img/Mars-Parachute-2.png

/assets/img/crweworld-podcast.jpg
Sponsored
Also read
Logitech Increases Fiscal Year 2021 Outlook, Raises Long-Term Financial Model
InnoCare Appoints Dr. Sean Zhang as Chief Medical Officer
Sangfor Technologies Announces the Winners of 2020 Global Partner Awards
AVerMedia Launches Standalone Capture Box "EzRecorder 330" with PC-Free Streaming and Cross-Generational Gameplay Support
AvePoint Launches EduTech To Improve Higher Education Technology
Crazy Sports partners with Huobi Group to land a foothold in Hainan
Fellows Creative Staff Singapore opened their Singapore office to help the creative content of all businesses stand out in the DX era by sourcing creators and digital talents
Minerco Pioneers In-House Blockchain Token SHRU And Application SHRUCOIN Pay to Enable Psilocybin and Cannabis Purchases in Legal Markets


Post on CRWE WorldSign Up for Free E-mail Updates
  • Real Estate Eagle Firm, Real Estate
  • Hancock Jaffe Laboratories, Nasdaq:HJLI, HJLI
Signup for free email updates
/assets/img/wall-street-rect2.png
/assets/img/wall-street-sq.png



Join with us
Live Traffic Feed
About CrweWorld
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Finance Disclaimer
  • Jobs
Subscribe for newsletter
3+2
Contact Info
  • contact@crweworld.com

  • P: (702) 683-8946

  • P: (702) 810-0178

  • 11226 Pentland Downs St, Las Vegas, NV 89141

Tweets by CrweWorld
Tweets by @CrweWorld
  • © 2021 crweworld.com
ad1

/assets/images/ad/crwe_tech.jpg

Your Technology Source, Your Technology Team

Server Maintenance, Web Development, Mobile Application Solutions, SEO Services and more

Contact Us: contact@crwetech.com

www.CRWETech.com

ad2

/assets/images/ad/content-delivery-solution.jpg

 

Our content delivery solution through CRWE WORLD, CRWE Press Release and CRWE Tube gives corporations and businesses a vehicle to expand their exposure

CLICK HERE FOR MORE INFORMATION

ad3

/assets/img/crwe_info.png

CRWE Info ( CRWE.Info ) provides news and updates about Crown Equity Holdings Inc. and the CRWE World platform

www.crwe.info

ad4

/assets/images/ad/crwetube.png

Share your videos. Upload your videos for free on CRWETube

www.CRWETube.com

ad5

/assets/images/ad/ad4.png

 

Place Your Ad Here! Advertise your business online on CRWE WORLD. Your Company, product, or service in front of the world!

Contact Us: contact@crweworld.com

www.CRWEWorld.com

Advertisements

/assets/images/ad/crwe_tech.jpg

Your Technology Source, Your Technology Team

Server Maintenance, Web Development, Mobile Application Solutions, SEO Services and more

Contact Us: contact@crwetech.com

www.CRWETech.com

/assets/images/ad/content-delivery-solution.jpg

 

Our content delivery solution through CRWE WORLD, CRWE Press Release and CRWE Tube gives corporations and businesses a vehicle to expand their exposure

CLICK HERE FOR MORE INFORMATION

/assets/img/crwe_info.png

CRWE Info ( CRWE.Info ) provides news and updates about Crown Equity Holdings Inc. and the CRWE World platform

www.crwe.info

/assets/images/ad/crwetube.png

Share your videos. Upload your videos for free on CRWETube

www.CRWETube.com

/assets/images/ad/ad4.png

 

Place Your Ad Here! Advertise your business online on CRWE WORLD. Your Company, product, or service in front of the world!

Contact Us: contact@crweworld.com

www.CRWEWorld.com

CRWE WORLD Advertising Services RateJoin CRWE WORLD Affiliate Program