Crius Energy Trust Completes $100,000,000 Initial Public Offering

Crius Energy Trust Completes $100,000,000 Initial Public Offering 
TORONTO, Nov. 13, 2012 /CNW/ - Crius Energy Trust ("Crius Energy" or the 
"Trust") is pleased to announce it has completed its initial public offering 
of 10 million trust units (the "Units") priced at $10.00 per Unit for total 
gross proceeds of $100.0 million. The majority of the net proceeds of the 
offering will be used, indirectly, to purchase an approximate 26.8% interest 
in Crius Energy, LLC (the "Company"). The Company is one of the largest 
independent energy retailers that markets and sells electricity and natural 
gas to residential and small to medium-size commercial customers in the United 
States. The Company was recently formed to acquire Regional Energy Holdings, 
Inc. and Public Power, LLC. In addition, approximately $25 million of the net 
proceeds will be used for general corporate purposes and to fund future 
"We look forward to delivering value to our investors and continuing to 
deliver value to our customers as we provide them with innovative energy 
options,"said Michael Fallquist, Chief Executive Officer, Crius Energy. 
"Less than four years ago, our first brand was launched and now, together, our 
five brands carry a customer base of well over 500,000 residential customer 
The Units will commence trading today on the Toronto Stock Exchange under the 
symbol "KWH.UN". 
The offering was completed through a syndicate of underwriters co-led by 
Scotiabank, RBC Capital Markets and UBS Securities Canada Inc., and including 
National Bank Financial Inc., Macquarie Capital Markets Canada Ltd., Raymond 
James Ltd., Desjardins Securities Inc., GMP Securities L.P. and Chardan 
Capital Markets, LLC. Chardan Capital Markets, LLC also acted as M&A advisor 
to Public Power in the formation of the Company. 
The underwriters have been granted an over-allotment option, exercisable for a 
period of 30 days from the date of the closing of the offering, to purchase up 
to an additional 1.5 million Units at the offering price of $10.00 per Unit to 
cover over-allotments, if any, and for market stabilization purposes. If the 
over-allotment option is exercised in full, the gross proceeds of the offering 
will be $115.0 million. The net proceeds from the over-allotment received by 
the Trust will be used, indirectly, to acquire up to an additional 4% interest 
in the Company and any remaining net proceeds from the over-allotment will be 
used for general corporate purposes. 
Crius Energy expects that the initial monthly cash distribution rate will be 
$0.0833 per Unit. The initial cash distribution, which will be for the period 
from and including the date of closing of the offering to December 31, 2012, 
is expected to be paid on January 15, 2013 to unitholders of record on 
December 31, 2012 and is estimated to be $0.1326 per Unit. 
As disclosed in the Trust's final prospectus dated November 2, 2012, 
immediately following closing Roop Bhullar, the Chief Financial Officer of 
Crius Energy Administrator Inc. (the "Administrator"), will step down from the 
board of the Administrator to permit the appointment of James A. Ajello. 
Mr. Ajello has extensive experience in the North American energy and natural 
resources markets and is currently the Executive Vice President, Chief 
Financial Officer, Treasurer and Chief Risk Officer of Hawaiian Electric 
Industries Inc. ("HEI") (NYSE.HE) and the chairman of the United States 
Department of Energy's Environmental Management Advisory Board. Mr. Ajello 
also serves on the board of trustees of Hawaii Pacific University, The Oceanic 
Institute, HEI Community Foundation and Enterprise Honolulu (Oahu Economic 
Development Board). 
Further information relating to Crius Energy and the Units is set out in Crius 
Energy's final prospectus dated November 2, 2012, which may be obtained from 
the SEDAR website at under Crius Energy's profile. 
This press release does not constitute an offer to sell or the solicitation of 
any offer to buy the securities in the United States, in any province or 
territory of Canada or in any other jurisdiction. The securities to be offered 
have not been, and will not be, registered under the United States Securities 
Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state 
securities laws and may not be offered or sold in the United States absent 
registration or absent an applicable exemption from the registration 
requirements of the U.S. Securities Act and applicable U.S. state securities 
laws. There shall be no sale of the securities in any jurisdiction in which an 
offer to sell, a solicitation of any offer to buy or a sale would be unlawful. 
About Crius Energy 
Crius Energy has been established to provide investors with a stable and 
consistent distribution-producing investment through the acquisition of an 
ownership interest in the Company by an indirect wholly-owned subsidiary of 
Crius Energy. The Company is one of the largest independent energy retailers 
operating in the United States, with approximately 515,000 residential 
customer equivalents as of August 31, 2012. 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 10 states and the District of Columbia and 
natural gas in four states. 
Crius Energy 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). 
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 
final prospectus (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 and Crius Energy's expectations 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 Crius Energy's final prospectus or 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 
Michael Fallquist Chief Executive Officer (203) 663-7545  Roop Bhullar Chief 
Financial Officer (203) 883-9900   
SOURCE: Crius Energy Trust 
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CO: Crius Energy Trust
ST: Ontario
-0- Nov/13/2012 13:29 GMT
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