April 19, 2018 - 9:54 AM EDT
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Crius to Put Forward Governance Amendments for Unitholder Approval at Annual General Meeting

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

TORONTO, April 19, 2018 (GLOBE NEWSWIRE) -- Crius Energy Trust (TSX:KWH.UN) (the "Trust", "Crius" or the "Company") today announced that it will seek unitholder approval of certain governance amendments proposed by dissident unitholder JCP Investment Management, LLC (“JCP”).  Unitholders will have the opportunity to vote on the amendments at Crius’ Annual General Meeting (“AGM”) on May 29, 2018.

“Crius appreciates unitholder feedback, and is always open to enhancing its governance practices,” said David Kerr, Chairman of the Board of Crius.  “That said, it is notable that despite the many opportunities JCP had to introduce these proposals over discussions with Crius the past several months, JCP chose to wait until this late date to introduce them.  Unitholders may wonder whether JCP is truly interested in enhancing Crius’ governance, or whether it and its advisors are using this as a public relations stunt related to the unnecessary and costly proxy fight JCP has initiated.  Either way, Crius takes its governance seriously, and will put the proposals forward and recommend that unitholders approve them at the AGM.”

The list of proposed amendments will be laid out in Crius’ Management Information Circular, which will be filed on www.sedar.com and mailed to unitholders in due course. The Board remains focused on continuing to deliver on its plan to maximize value for all unitholders.  Unitholders need not take any action at this time. 

Forward-looking statements

This press release contains forward-looking statements. These forward-looking statements, by their nature, require the Trust to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Words such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements including the fact that the Trust "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "scheduled" and similar expressions or variations (including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur including, without limitation, statements about Crius's intention to seek unitholder approval of certain governance amendments proposed by JCP. Although Crius believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve known and unknown risks, uncertainties and other factors and are not guarantees of future performance and actual results may accordingly differ materially from those in forward looking statements. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions. Crius cannot assure unitholders and prospective purchasers of securities of the Trust that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Crius nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information, Crius does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

About Crius Energy Trust

With over 1.4 million residential customer equivalents, the Company provides innovative electricity, natural gas and solar products to residential and commercial customers through exclusive partnerships, direct-to-consumer, digital, and broker 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 19 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 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 precludes the Trust from holding any "non-portfolio property" (as defined in the Tax Act). Material information pertaining to 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.

For further information, please contact:

Michael Fallquist

Chief Executive Officer, Crius Energy Trust
(203) 663-7545

Roop Bhullar

Chief Financial Officer, Crius Energy Trust
(203) 883-9900

Kelly Castledine

Investor Relations, Crius Energy Trust
(416) 644-1753

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Source: GlobeNewswire (April 19, 2018 - 9:54 AM EDT)

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