Crosswinds Holdings Inc.

Crosswinds Holdings Inc.

December 22, 2015 08:00 ET

Crosswinds Holdings Inc. Receives Partial Debt Repayment from Salbro Bottle

TORONTO, ONTARIO--(Marketwired - Dec. 22, 2015) - Crosswinds Holdings Inc. ("Crosswinds" or the "Company") (TSX:CWI) announces that its investee, Salbro Bottle Group ("Salbro") has repaid CDN$1,800,000 in principal and accrued interest owing under the debentures issued by Salbro to Crosswinds (the "Debentures"). As a condition to the repayment, certain terms of the Debentures and common share warrants issued by Salbro to Crosswinds (the "Warrants"), such as, the interest rate, maturity and principal amortization of the Debentures and the maturity and number of Warrants, have been amended.

The Company will receive current monthly interest and principal payments from Salbro commencing immediately, with the Debentures and Warrants maturing in December 2021. Following the repayment, Crosswinds has approximately CDN$1,600,000 in principal amount of Debentures outstanding and holds Warrants exercisable into 7.5% of the Salbro enterprise.

Crosswinds Holdings Inc.

Crosswinds is a publicly traded private equity firm and asset manager targeting strategic and opportunistic investments in the financial services sector with a particular focus on the insurance industry.

Caution Regarding Forward-Looking Information

This release includes certain forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue" or the negative thereof or variations thereon or similar terminology. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These forward-looking statements are subject to a number of risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements. Reference should be made to the risk factors in the Company's most recent Annual Information Form, interim Management's Discussion and Analysis and in our other filings with Canadian securities regulators. Additional important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors.

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