- Viridian Energy Offers Natural Gas in DC, VA and MD for the First Time
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- Public Power Expanding Throughout Pennsylvania -
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
SERVICES/
TORONTO, July 10, 2013 /CNW/ - Crius Energy Trust (TSX: KWH.UN) ("Crius Energy" or the "Trust"), is pleased to announce that two
members of Crius Energy's family of brands marked significant
expansions of service and reach this month.
Viridian Energy customers can now choose to receive natural gas in
select markets in Maryland, Virginia and the District of Columbia. This
is in addition to Viridian's affordable, green electricity offering in
Maryland and DC. The natural gas offering is Viridian's first foray
into Virginia.
At the same time, Public Power is expanding its electricity presence
throughout Pennsylvania with agreements to serve in three new utility
service areas. This expansion represents a significant opportunity for
Public Power as nearly two-thirds of Pennsylvania's six million
electricity customers don't currently have an independent energy
supplier, according to the Pennsylvania Public Utility Commission.
"This expansion marks a continuation of Crius Energy's ambitious plan
for growth in 2013, which began with the acquisition of a book of
customers from PNE Energy Supply earlier this year," said Michael
Fallquist, CEO of Crius Energy. "The company will continue to increase
market share by executing its multi-pronged growth strategy that
includes rolling out Crius brand energy products in new markets,
extending the reach of Crius brands in markets where it currently
operates, cross-selling electricity and gas to both new and existing
customers, and exploring opportunities for accretive acquisitions."
About Crius Energy Trust
Crius Energy Trust has been established to provide investors with a
stable and consistent distribution-producing investment through the
acquisition of a 26.8% ownership interest in Crius Energy LLC (the
"Company"). The Company is one of the largest independent energy
retailers operating in the United States, with approximately 580,000
residential customer equivalents. The Company serves residential and small to medium-size commercial
customers in the United States and markets its products through a
variety of sales channels and brand names. The Company currently sells
electricity in 11 states and the District of Columbia and natural gas
in seven states and the District of Columbia.
Crius Energy 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 Crius Energy may be found on www.sedar.com or www.criusenergytrust.ca.
Forward-Looking Statements
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
Crius Energy'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, Crius
Energy'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. 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 Trust
