Crius Energy Trust Increases Bought Deal Equity Financing to C$40.1 Million

Crius Energy Trust announced that it has increased its previously announced "bought-deal" financing to 5,900,000 units of the company.

A syndicate of underwriters co-led by Cormark Securities Inc., Scotiabank and RBC Capital Markets and including Desjardins Securities Inc. and Mackie Research Capital Corporation has agreed to buy and sell to the public an additional 1,400,000 Units of the company at a price of C$6.80 per Unit for additional gross proceeds to the company of C$9,520,000. Total gross proceeds of the Offering are now C$40,120,000.

The underwriters will also have the option, exercisable in whole or in part at any time up to 30 days after the closing of the offering, to purchase up to an additional 885,000 Units of the Trust. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering will be C$46,138,000. Closing of the offering is expected to occur on or about July 2, 2015 and is subject to regulatory approval including that of the Toronto Stock Exchange.

The net proceeds of the offering will be used by the Trust to make an additional indirect investment in Crius Energy Corporation through a capital contribution, loan or a combination thereof to enable Crius Energy Corporation to purchase membership units of Crius Energy, LLC from certain existing holders of Crius Energy, LLC units and for general corporate purposes. Upon completion of the Crius Energy, LLC units, the Trust will hold a minimum 42.7% indirect ownership interest in Crius Energy, LLC. At present, the Trust indirectly owns 26.8% of Crius Energy, LLC.