Mr. Craig Armitage reports

CROWN CAPITAL ANNOUNCES COMING INTO EFFECT OF AMENDMENTS TO CONVERTIBLE DEBENTURES

Crown Capital Partners Inc. has noted that the following amendments to its 6 per cent convertible unsecured subordinated debentures due June 30, 2023, previously announced by the corporation on April 11, 2023, April 26, 2023, and May 16, 2023, are effective today:

1. Extending the maturity date of the debentures from June 30, 2023, to Dec. 31, 2024;
2. Amending the interest rate on the debentures from 6 per cent to 10 per cent;
3. Removing the conversion right of the holders of debentures;
4. Removing the right of the corporation to repay the principal amount of the debentures in common shares of the corporation on the new maturity date or any redemption date.

Commencing today, the existing debentures will cease trading on the TSX under the trading symbol CRWN.DB and the amended debentures will commence trading on the TSX under the new trading symbol CRWN.NT.

Crown has entered into an amended and restated trust indenture dated today with TSX Trust Company governing the amended debentures. A copy of the amended and restated indenture is located on the corporation's profile on SEDAR.

About Crown Capital Partners Inc.

Founded in 2000 within Crown Life Insurance Company, Crown Capital is a capital partner to entrepreneurs and growth businesses mainly operating in the telecommunications infrastructure, distribution services and distributed power markets. It focuses on growth industries that require a specialized capital partner, and it aims to create long-term value by acting as both a direct investor in operating businesses serving these markets and a manager of investment funds for institutional partners.

We seek Safe Harbor.