07:10:09 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Crown Capital Partners Inc
Symbol CRWN
Shares Issued 5,619,546
Close 2023-07-13 C$ 7.85
Market Cap C$ 44,113,436
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Crown Capital's CNPI, YorkNet to build fibre network

2023-07-17 10:28 ET - News Release

Mr. Jon D'Alessandro reports

COMMUNITY NETWORK PARTNERS JOINS FORCES WITH YORKNET TO ACCELERATE HIGH-SPEED BROADBAND ACCESS IN YORK REGION

Community Network Partners Inc. (CNPI), a subsidiary of Crown Capital Partners Inc., has formed an innovative collaboration with YTN Telecom Network Inc. (YorkNet), a corporation of the Regional Municipality of York (York Region), aimed at financing, constructing and operating an advanced optical fibre network to provide high-speed Internet in York region.

"This transformative initiative is made possible through the combined investment of CNPI and York Region, in addition to funding support provided by each of the government of Canada and the Province of Ontario, which together represents an aggregate contribution of more than $120-million to this important infrastructure project," said Jon D'Alessandro, president of CNPI.

In connection with its broadband strategy across York region, which involves making high-speed Internet access available to residents, businesses, and public-sector partners such as municipalities, hospitals and schools, YorkNet has forged a strategic partnership with CNPI, a leading provider of private and open-access broadband networks.

"CNPI brings an innovative approach to financing and ensures long-term success of community projects," said Mr. D'Alessandro. "We will leverage industry-leading technical expertise and our proven track record of building and maintaining reliable and secure networks across Canada to provide best-in-class Internet services in York region."

CNPI will invest a total of $15-million over the next four years in connection with this partnership and expects to achieve an addressable market of approximately 14,000 customers.

The collaboration between CNPI and YorkNet will empower York region to deliver cutting-edge broadband Internet services to all corners of the community, including rural and underserved areas. By leveraging the strengths of both organizations, this partnership will drive innovation, economic growth and educational advancements throughout the region.

"Together, CNPI and YorkNet are committed to bridging the digital divide, fostering inclusivity, and empowering individuals and businesses to thrive in the digital age."

About Community Network Partners Inc.

Community Network Partners (CNPI) is a leading provider of state-of-the-art, private and open-access broadband networks in underserved areas across Canada. With extensive experience in network development, financing and operations, CNPI delivers reliable and secure broadband solutions, fostering long-term success for the communities it serves.

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