Crius Energy Trust Announces Successful Close of TriEagle Energy Acquisition

Crius Energy Now Active in Texas, the Largest Deregulated Energy Market in the United States, and Expanding Commercial Platform

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

TORONTO, April 2, 2015 /CNW/ - Crius Energy Trust (TSX: KWH.UN) (the "Trust") today announced that Crius Energy, LLC ("Crius Energy") has successfully acquired all outstanding equity interests in TriEagle Energy LP ("TriEagle Energy"), a Houston-based energy retailer, for a preliminary purchase price of approximately US$19.1 million. As a result, Crius Energy has expanded its geographic footprint to include Texas, the largest deregulated energy market in the United States. Following the closing of the TriEagle Energy acquisition, Crius Energy is now serving roughly 200,000 additional customers in Texas, Pennsylvania and New Jersey through its newest energy brand.

"With just one product and a three-state focus, TriEagle Energy has established a strong market presence as well as a network of more than 300 active commercial broker relationships," said Michael Fallquist, Chief Executive Officer of the Trust and Crius Energy. "We are pleased to welcome this well-respected leader to the Crius Energy family of brands and look forward to applying our combined expertise across Crius Energy's full product suite and broad national service area."

TriEagle Energy's commercial, residential and municipal customers will continue to benefit from the same innovative products and strong value propositions without disruption, now backed by the proven strategy and resources of Crius Energy. In addition, Rob Cantrell, formerly President and Chief Operating Officer for TriEagle Energy, has been appointed as Executive Vice President of Crius Energy. Mr. Cantrell will lead operations in Texas and oversee the team that grew TriEagle Energy for more than 10 years, and maintained an "A" rating with the Better Business Bureau.

Funded by cash and availability under Crius Energy's credit facility, the TriEagle Energy purchase price included US$15.9 million in cash and US$3.2 million in phantom unit rights, which are to be settled in cash based on future trading prices of Trust units on the Toronto Stock Exchange on the first and second anniversary date of the closing. Consistent with the Trust's strategy to act only upon acquisition opportunities that are near-term accretive, Crius Energy expects the acquisition of TriEagle Energy to provide revenue and operational synergies and be accretive to distributable cash flow per unit in the next 12 months.

"The acquisition of TriEagle Energy represents the bringing together of two highly customer-focused organizations," Fallquist explained. "We have delivered a seamless transition for our newest customers while creating a robust growth platform in Texas for other Crius Energy brands, including Viridian Energy. We are confident that this transaction, combined with our strong recent results, firmly positions the Trust to continue to deliver long-term sustainable distributions."

About Crius Energy
The Trust was established to provide investors with a distribution-producing investment through the acquisition of an approximate 26.8% ownership interest in Crius Energy. With approximately 800,000 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. Crius Energy sells energy products in 20 states and the District of Columbia with plans to continue expanding its geographic reach.

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 SEDAR at www.sedar.com or on the Trust's website at www.criusenergytrust.ca.

Caution Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws, including (but not limited to) statements regarding the belief or current expectations of Crius Energy, the Trust, and their respective Boards of Directors regarding the acquisition of TriEagle Energy described in this press release, including that the acquisition will be accretive to earnings and gross margins in 2015 (or in the future). A statement is forward-looking when it uses what Crius Energy knows and expects today to make a statement about the future. Forward-looking statements may include words such as anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, seek, should, strive, target, will or other similar expressions. These statements relate to future events or future performance and reflect current assumptions, expectations and estimates of management regarding the business and operations of TriEagle Energy, the retail energy market in Texas, Pennsylvania and New Jersey, growth, results of operations, performance, business prospects and opportunities, Canadian economic environment and ability to attract and retain customers. Such forward-looking statements reflect current assumptions, expectations and estimates of management and are based on information currently available to Crius Energy as at the date of this press release. Forward-looking statements are subject to certain risks and uncertainties, and should not be read as guarantees of future performance or results and actual results may differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include but are not limited to, the Trust's objectives and status as a mutual fund trust and not a SIFT trust, results of operations, financial position or cash flows, customer revenues and margins, customer additions and renewals, customer attrition, customer consumption levels, general and administrative expenses, treatment under governmental regulatory regimes, distributable cash and Crius Energy's expectations and estimates regarding the payment of distributions to unitholders. Such assumptions, expectations, estimates, risks and uncertainties are discussed under the headings "Risk Factors" (beginning on page 67) and "Special Notes to Reader – Forward-Looking Statements and Risk Factors" (beginning on page 9) in the Annual Information Form of the Trust dated March 25, 2015, and under the headings "Financial Instruments and Risk Management" (beginning on page 19) and "Forward-Looking Statements" (beginning on page 32) in the Management's Discussion and Analysis of the Trust dated March 25, 2015. Consequently, we cannot guarantee that any forward-looking statements will materialize. Readers should not place any undue reliance on such forward-looking statements. Crius Energy disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE Crius Energy Trust

For further information: Michael Fallquist, Chief Executive Officer, mfallquist@criusenergy.com, (203) 663-7545; Roop Bhullar, Chief Financial Officer, rbhullar@criusenergy.com, (203) 883-9900; Craig MacPhail, TMX Equicom, cmacphail@tmxequicom.com, (416) 815-0700 ext. 290


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