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Salbro Shareholders Enter into Acquisition Agreement
TORONTO, June 26, Jun 26, 2017 (GLOBE NEWSWIRE via COMTEX) -- (C) Copyright 2017 GlobeNewswire, Inc. All rights reserved.

Crosswinds Holdings Inc. ("Crosswinds" or the "Company") (TSX:CWI) announces that it has been informed by the shareholders of its investee, Salbro Bottle Inc. ("Salbro"), that they have entered into a definitive agreement with TricorBraun, an international packaging solutions company, for the acquisition of Salbro (the "Transaction").

The Transaction is subject to a number of conditions and is expected, subject to satisfaction of those conditions, to close in the near term. Assuming completion of the Transaction as contemplated, Crosswinds expects to fully monetize its remaining investment in Salbro which consists of debentures and 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.

Salbro Bottle Inc.

Salbro is a Woodbridge, Ontario based company founded in 1990. Salbro's packaging solution business provides creative plastic containers, glass containers and closures to its customers.

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 2016 Annual Information Form 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, the receipt of any approvals or consents and the satisfaction of any conditions required to complete the Transaction.

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