TORONTO, July 24, 2018 – Flow Capital Corp. (“Flow Capital” and “Flow”) wishes to announce that it has increased its investment in Solar Brokers Canada Corp. (“Solar Brokers”) and its affiliate Green Lion Eco Group Corp. (“Green Lion”).
Solar Brokers, based in Toronto, Ontario, is one of Canada’s largest solar sales organizations. Solar Brokers has brokered the sale of over 30 megawatts of solar to homeowners in Ontario since 2012, selling through online and premium retail channel partners. Solar Brokers is redefining how Canadian consumers adopt residential solar. Green Lion is a project management and quality assurance firm that ensures that every Solar Brokers project is built to industry-leading standards.
Flow Capital will provide to the companies a $1 million secured line of credit, which will accelerate the installation of sold projects. In addition to the line of credit, Flow Capital has made a strategic investment to become a shareholder of Solar Brokers and Green Lion. Flow will also be providing financial and strategic advice to the companies and will have the right to a seat on the companies’ boards of directors. Interest on the line of credit is commensurate with Flow Capital’s existing royalty, and the facility may be repaid at any time without a buyout premium.
Solar Brokers CEO J.C. Awwad commented, “We are excited to be partnering with Flow Capital, and confident that this partnership will allow us to optimize our financial strategy to obtain the required capital to support our ongoing rapid growth.”
“Flow Capital offers emerging growth companies a strong value proposition – a broad set of capital solutions that can be tailor-made to unique circumstances, paired with the advice and involvement of our team and Board,” said Robb McLarty, Acting Chief Executive Officer of Flow. “We believe in Solar Brokers’ business model and potential for value creation, which is why we chose to expand our investment in the company. The partnership is particularly well-matched given our team’s track record of investing in this space, which includes multiple profitable exits at prior firms.”
About Flow Capital Corp.
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.
