08:55 AM EDT, 05/16/2024 (MT Newswires) -- Crown Capital Partners (CRWN.TO) overnight Wednesday reported first quarter net loss narrowed slightly as revenue edged up.

The company recognized a net loss of $0.6 million, or $0.11 per share, compared with a net loss of $0.7 million, or $0.13 per share, last year.

Total revenue rose to near $17.8 million, from $17.055 million, the year before, boosted by higher fees and other income.

Since September 30, 2023, the company has not satisfied certain financial covenant clauses of its credit agreement with its bank, which is entitled to request immediate repayment of the outstanding loan of $24.6 million. The outstanding balance is presented as a current liability as at March 31, 2024. The bank has not requested early repayment of the loan.

Management is currently in discussions with lenders regarding replacing its current credit facility and multiple financing options are being considered. However, the company said, there is no assurance that such arrangements will become available.