/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
TORONTO, July 6, 2017 /CNW/ - Crius Energy Trust (the "Trust") (TSX: KWH.UN) announced today that the
Board of Directors of Crius Energy Administrator Inc., the administrator of the Trust (the "Board") has approved a 2% increase to
distributions paid on units of the Trust ("Units"), representing an annualized increase of $0.0158
per Unit and a total annualized distribution of $0.8043 per Unit. Accordingly, monthly
distributions on Units for the third quarter of 2017 will be paid at a rate of $0.0670 per Unit,
representing a 2% increase over the previous annualized distribution rate of $0.7885 per Unit.
"With the recent completion of the U.S. Gas & Electric acquisition and the expected pro-forma 59% increase in Adjusted
EBITDA, 60% increase to distributable cash, and 9% reduction in the payout ratio to 53% resulting from the acquisition before
accounting for synergies, the Board and Management are confident in delivering another 2% increase to our investors this
quarter," commented Michael Fallquist, CEO of Crius Energy. "The acquisition materially enhances
the financial profile of Crius and the Board is committed to delivering increased distributions through the remainder of
2017."
Today, the Board declared the Trust's monthly distributions on Units, each in the amount of $0.0670 per Unit, through the third quarter of 2017. Such distributions are payable for each of July 2017, August 2017 and September 2017 to
unitholders of the Trust as set forth below.
Record Date
|
Period
|
Distribution Payable
Date
|
Distribution
Amount per Unit
|
July 31, 2017
|
July
|
August 15, 2017
|
$0.0670
|
August 31, 2017
|
August
|
September 15, 2017
|
$0.0670
|
September 30, 2017
|
September
|
October 16, 2017
|
$0.0670
|
About Crius Energy Trust
Crius provides investors with a distribution-producing investment through its indirect 100% ownership interest in Crius
Energy, LLC (the "Company"). With over 1.3 million residential customer equivalents, the Company provides innovative
electricity, natural gas and solar products to residential and commercial customers through exclusive partnerships and
direct-to-consumer marketing channels. Our unique brands offer consumers a broad suite of energy products and services including
fixed and variable contracts, renewable energy, and bundled products to support their energy needs beyond what is offered by
their local utility. Company growth is achieved organically with customers acquired through our diversified marketing channels
and through accretive acquisitions in the deregulated energy and solar industries, where there is a significant opportunity to
participate in the consolidation of market participants. The Company currently sells energy products in 18 states and the
District of Columbia with plans to continue expanding its geographic reach. The Company is well
positioned to deliver capital appreciation and stable, growing distributions to investors.
The Trust intends to continue 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 preclude the Trust from holding any "non-portfolio property"
(as defined in the Tax Act). Material information pertaining to the Crius may be found on SEDAR under the Trust's issuer profile
at www.sedar.com or on the Trust's website at www.criusenergytrust.ca.
Cautionary Statement Regarding Forward-Looking Statements
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 ability of the Trust
to maintain a distribution on Units, the ability of Crius Energy, LLC to continue completing acquisitions and continue its
organic growth strategy, Crius Energy , LLC 's 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, the Trust's objectives and status as a mutual fund
trust and not a SIFT trust, the Trust's distributable cash and the Trust's expectations and estimates regarding the payment of
distributions to Unit holders. Such assumptions, expectations, estimates, risks and uncertainties are discussed under the
headings "Risk Factors" and "Special Notes to Reader – Forward-Looking Statements and Risk Factors" in the Annual Information
Form of the Trust dated March 16, 2017, and under the headings "Financial Instruments and Risk Management" and
"Forward-Looking Statements" in the Management's Discussion and Analysis of the Trust dated May 11,
2017. Consequently, we cannot guarantee that any forward-looking statements will materialize. Readers should not place any
undue reliance on such forward-looking statements.
Non-IFRS Financial Measures
Statements in this news release make reference to Adjusted EBITDA, distributable cash and payout ratio, which are non-IFRS
financial measures commonly used by financial analysts in evaluating the financial performance of companies, including companies
in the energy industry. Accordingly, Crius believes Adjusted EBITDA, Distributable Cash and payout ratio may be useful metrics
for evaluating the Trust's financial performance as they are measures that Crius uses internally to assess performance, in
addition to IFRS measures. As there is no generally accepted method of calculating Adjusted EBITDA, Distributable Cash and payout
ratio, these terms as used herein are not necessarily comparable to similarly titled measures of other companies. Adjusted
EBITDA, Distributable Cash and payout ratio have limitations as analytical tools and should not be considered in isolation from,
or as an alternative to, net income (loss) or other data prepared in accordance with IFRS. Adjusted EBITDA is calculated as
EBITDA adjusted to exclude any change in the fair value of derivative instruments, change in fair value of non-controlling
interest, change in fair value of warrant liability, Unit-based compensation, goodwill impairment and distributions to
non-controlling interest. The items excluded from Adjusted EBITDA are significant in assessing the Trust's operating results and
liquidity. See the MD&A of the Trust for the three month period ended March 31, 2017 (under the heading ""Reconciliation
of Net Income (Loss) to EBITDA and Adjusted EBITDA") for a reconciliation of Adjusted EBITDA to net loss, as calculated under
IFRS for the relevant periods, the most directly comparable measure in the consolidated financial statements of the Trust. See
the MD&A of the Trust for the three month period ended March 31, 2017 (under the heading "Distributable Cash and Payout
Ratio") for a reconciliation of Distributable Cash to cash flows provided by operating activities as calculated under IFRS, the
most directly comparable measure in the consolidated financial statements of the Trust. Other financial data has been prepared in
accordance with IFRS.
SOURCE Crius Energy Trust
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