BRIEF-Crius Energy signs agreement to expand network marketing sales channel

Tue Jul 19, 2016 7:53am EDT
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July 19 (Reuters) - Crius Energy Trust :

* Crius Energy enters partnership to expand network marketing sales channel

* Transaction expected to streamline operations while maintaining exclusive access to high-performing network marketing sales channel

* Asset purchase agreement includes payments to Crius Energy totaling $10 million over five years

* Subsidiary has entered into an asset purchase agreement with Viridian International Management LLC

* Viridian international will be led by Chief Executive Officer Paul Booth

* Asset purchase agreement includes $2 million in cash upon completion of deal, $4 million promissory note due to company in 12 months

* Crius will continue to directly own and service all existing and future electricity and natural gas customer relationships Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)