TORONTO, August 8, 2018 – Flow Capital Corp. (“Flow Capital” and “Flow”) announced today the conclusion of the joint venture agreement with Foregrowth Holdco Inc, (“Foregrowth”). The joint venture agreement was signed in October 2016 and was due to expire in October 2018.
“I would like to thank Foregrowth for their work in making the partnership a success,” said Robb McLarty, Acting Chief Executive Officer of Flow. “The partnership allowed us to scale our portfolio across a broader number of investment opportunities while still providing sufficient growth capital to help investees achieve their growth objectives. Flow is now positioned to achieve future growth through investments with stronger alignment with managers/owners, better security interests, and in certain cases, additional upside in the form of equity participation through instruments such as warrants.”
Flow Capital has divested its 15% shareholding in Foregrowth-Grenville Investments Inc. (“FGI”). Flow Capital and its other joint venture partner, Darwin Strategic Royalty Corp. (“Darwin”), acquired Foregrowth’s share of the five royalty investments made by FGI for a price equal to the investment amount. The five royalty investments consist of Expert Homes, eScribe, Factor75, Medworxs and Hybrid Financial. Flow Capital and Darwin share the acquired investments on a 79% and 21% basis, respectively.
About Flow Capital
Based in Toronto, Flow Capital Corp. is a diversified alternative asset investor and advisor, operating two divisions: an investment operation providing revenue-linked capital to emerging growth businesses, and an institutional advisory sales platform providing pension funds, charities and endowment clients with access to leading institutional money managers from around the world. Learn more at www.flowcap.com.
For further information, please contact:
Flow Capital Corp.
Robb McLarty
Chief Executive Officer (Acting)
robb@flowcap.com
Phone: (416) 777-0383
1 Adelaide Street East, Suite 3002,
PO Box 171,
Toronto, Ontario M5C 2V9
Certain statements herein may be “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Flow or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Flow assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances.
