CALGARY, AB,
Feb. 3,
2023 /CNW/ - Crown Capital Partners Inc.
("Crown" or the "Corporation") (TSX: CRWN), a capital
partner to entrepreneurs and growth businesses, today announced
that its operating subsidiary Galaxy Broadband Communications, Inc.
("Galaxy"), entered into a multi-year deal to deliver OneWeb's low
Earth orbit (LEO) connectivity solutions across Canada, including the northern territory of
Nunavut. The full press release on
the announcement from OneWeb and Galaxy can be found here.
Galaxy is an Ontario-based,
satellite-focused network services company, providing connectivity
to remote and underserviced enterprise customers across
Canada. As one of OneWeb's fastest
growing distribution partners to date, Galaxy has already deployed
to over 75 locations throughout Canada, meeting a range of customer needs and
connecting anywhere from 30 to 800 users at each site.
Rick Hodgkinson, CEO and Founder
of Galaxy Broadband Communications Inc., commented: "Galaxy is
delighted to expand its business with OneWeb and secure the
bandwidth vital to improve connectivity throughout Nunavut. Access to broadband internet is
an essential service that supports education, healthcare, commerce
and general well-being. There are numerous communities
throughout Canada that do not have
access to broadband internet, with the challenge in Nunavut being particularly acute as the
Territory is 100% dependent on satellite connectivity services.
OneWeb's low earth orbit satellites will markedly improve
connectivity in the Territory and is an important milestone for
Nunavummiut. Galaxy's roll-out of OneWeb services is underway with
a target to have all 25 communities in Nunavut connected by the end of 2023."
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 in this news
release include, but are not limited to, statements, management's
beliefs, expectations or intentions regarding the anticipated
roll-out of OneWeb services. 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.
About Crown Capital Partners (TSX:
CRWN)
Founded in 2000 within Crown Life Insurance Company, Crown
Capital Partners is a capital partner to entrepreneurs and growth
businesses mainly operating in the telecommunications
infrastructure, distribution services, and distributed power
markets. We focus on growth industries that require a specialized
capital partner, and we aim to create long-term value by acting as
both a direct investor in operating businesses serving these
markets and as a manager of investment funds for institutional
partners. For additional information, please visit
crowncapital.ca.
SOURCE Crown Capital Partners Inc.