Crius Energy Announces Appointment of Christian McArthur as Executive Vice President
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
TORONTO, March 26, 2014 /CNW/ - Crius Energy Trust (the "Trust") (TSX: KWH.UN), announced today the appointment of Christian McArthur as Executive Vice President of Procurement, Pricing and Product Engineering. Mr. McArthur is a veteran of the retail energy industry with over 10 years of experience. Most recently, he was a Senior Vice President at Just Energy responsible for energy supply operations for all North American businesses.
"Christian has strong skills in energy procurement, hedging and forecasting," said Michael Fallquist, Chief Executive Officer of the Trust. "This, along with his extensive experience and broad knowledge of the energy markets across North America, will be valuable as we execute our strategy to expand the Crius Energy banner throughout the United States and diversify our product offering."
In his previous position, Christian oversaw trading, risk management, customer analytics and forecasting through Just Energy's expansion from three to 20 markets across North America, serving more than four million customers. He was also successful at new product development and innovating new revenue streams.
"I am excited about joining Crius Energy as it builds a strong market presence in the United States," said Mr. McArthur. "Its unique family of brands strategy and multiple distribution channels provide it with momentum to capture market share."
About Crius Energy Trust
Crius Energy Trust has been established to provide investors with a distribution-producing investment through the acquisition of a 26.8% ownership interest in Crius Energy. With over 610,000 residential customer equivalents, Crius Energy is a comprehensive energy solutions partner that provides electricity, natural gas and solar products to residential and commercial customers. Crius Energy connects with energy customers through an innovative family-of-brands strategy and multi-channel marketing approach. This unique combination creates multiple access points to a broad suite of energy products and services that make it easier for consumers to make informed decisions about their energy needs. With headquarters in Stamford, Connecticut, Crius Energy currently sells electricity, natural gas and/or solar power in 19 states and the District of Columbia. More information is available at www.criusenergytrust.ca.
The Trust intends to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act), provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any "non-portfolio property" (as defined in the Tax Act). Material information pertaining to the Trust may be found on www.sedar.com or www.criusenergytrust.ca.
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Crius Energy, including, without limitation, those listed under "Risk Factors" and "Forward-Looking Statements" in the Trust's Annual Information Form dated March 28, 2013 (collectively, "forward-looking information"). Forward-looking information in this news release includes, but is not limited to, the Trust's objectives and status as a mutual fund trust and not a SIFT trust and the results of operations of the Company. Crius Energy cautions investors of Crius Energy's securities about important factors that could cause Crius Energy's actual results to differ materially from those projected in any forward-looking statements included in this news release. Any statements that express, or involve discussions as to expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that the expectations set out in this news release will prove to be correct and accordingly, prospective investors should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this news release and Crius Energy does not assume any obligation to update or revise them to reflect new events or circumstances.
SOURCE Crius Energy TrustFor further information:
Chief Executive Officer
Chief Financial Officer
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