CALGARY,
AB, May 9, 2022 /CNW/ - Crown Capital Partners
Inc. ("Crown" or the "Corporation") (TSX: CRWN) today announced
that its subsidiary, Community Network Partners Inc. ("CNPI"), has
been selected as an Internet Service Provider ("ISP") under the
Ontario Connects: Accelerated High Speed Internet
Program. The aim of the program is to make reliable,
high-speed internet connectivity available to all premises in
Ontario by the end of 2025.
Under the Ontario Connects program, the Government of
Ontario has committed nearly
$4 billion to connect every region in
Ontario to reliable, high-speed
internet by the end of 2025. This is the largest single
investment in high-speed internet, in any province, by any
government in Canadian history. This investment will help
ensure that every household and business, in every community, has
access to the digital world.
Crown subsidiaries provide network connectivity to municipal,
commercial and residential end users in otherwise underserviced
markets. In connection with this program, CNPI will design,
construct, own and operate a broadband network that will deliver
high-speed internet to residential and business customers in select
service areas in Northern Ontario.
The contract available to CNPIs under the program is
approximately $150 million, which is
expected to be a material proportion of the network cost and will
bring service to approximately 9,400 households. CNPI expects
to immediately commence design and construction and anticipates
completion before the end of 2025.
"Access to reliable, high-speed connectivity is essential for
living, learning and thriving in today's digitally connected world.
We've been working vigorously to resolve the digital divide for
Canadians living in remote and rural regions, and we're delighted
to be part of the Government of Ontario's transformational program to make
this goal a reality for all Ontarians," said Chris Johnson, President and Chief Executive
Officer.
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 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 manager of investment
funds for institutional partners and as a direct investor in
operating businesses serving these markets. For additional
information, please visit crowncapital.ca.
SOURCE Crown Capital Partners Inc.