Crius Energy Trust Announces Acquisition of Customer Portfolio

Accretive acquisition of 15,000 RCEs continues business diversification

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

TORONTO , June 16, 2014 /CNW/ - Crius Energy Trust (KWH-UN.TO) today announced that Crius Energy LLC, a comprehensive energy solutions provider, has executed, through its affiliates, a purchase agreement to acquire the retail electricity customer portfolio of HOP Energy LLC, a provider of heating oil and petroleum products and related services, for an aggregate purchase price of approximately $1.3 million . The acquisition includes 13,000 residential and small commercial customer accounts totalling approximately 15,000 residential customer equivalents (RCEs) across five states in the northeast U.S.

"This acquisition, our second since the beginning of April, demonstrates our ability to act on accretive opportunities arising from the retail energy market volatility in the first quarter of the year," said Michael Fallquist , Chief Executive Officer. "Consistent with our strategy, this acquisition continues to diversify our portfolio, adding fixed-price contracts and commercial customers across five states. We welcome our new customers and can assure them of a seamless transition to the Crius Energy family."

Customers added through the acquisition will not experience any change to their service and will be transitioned either to Public Power or Viridian Energy services, two of Crius Energy's retail brands, based on location and service type.

"This acquisition further illustrates our ability to leverage our scalable platform for efficient growth as the customers added will require minimal incremental operating cost to serve," added Mr. Fallquist. "We are actively pursuing other acquisition opportunities and will remain disciplined in our approach. We are confident that we have the financial capability to execute on other accretive transactions as they become available. We remain focused on our goal to grow and diversify cash flows to support long-term distributions for our unitholders."

They also confirmed the June distribution of .0583 per share.