Dixie Energy Trust Provides an Update on the Winding-Up of the Trust

CALGARY, Jan. 21, 2015 /CNW/ - Dixie Energy Trust ("Dixie" or the "Trust") announced that the Court of Queen's Bench of Alberta has appointed Ernst & Young Inc. as claims administrator (the "Claims Administrator") in connection with the winding-up of the Trust (the "Winding-Up). As described in the management information circular (the "Circular") dated December 2, 2014, the Claims Administrator, together with the assistance of the Trustee, will establish the claims procedure  (the "Claims Procedure") for holders (the "Unitholders") of Dixie trust units and creditors of the Trust.  Additional information relating to the Claims Procedure will be provided by the Claims Administrator and will be available on the Claim's Administrator's website www.ey.com/ca/dixieenergytrust on January 24, 2015.

Following commencement of the Winding-Up procedure, Mr. Jeff Oke has resigned from the board of directors of the Administrator effective January 21, 2015. Dixie would like to thank Mr. Oke for his dedication and service throughout his tenure as a director of Dixie.

Further information regarding the Winding-Up of the Trust will be provided to Unitholders and creditors in due course by the Claims Administrator. Additional information is available on Dixie's website at DixieEnergyTrust.com.

Forward Looking Statement Disclaimer

Certain statements included in this news release constitute forward looking statements or forward looking information under applicable securities legislation. Such forward looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward looking statements or information in this news release include, but are not limited to the process of Winding-Up of the Trust (including timing of commencement and completion thereof).

Forward looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. Although Dixie believes that the expectations reflected in such forward looking statements or information are reasonable, undue reliance should not be placed on forward looking statements because Dixie can give no assurance that such expectations will prove to be correct.

Forward looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Dixie and described in the forward looking statements or information. These risks and uncertainties which may cause actual results to differ materially from the forward looking statements or information include, among other things, the ability to proceed with the Winding-Up on a timely basis (or at all).  The actual results, performance or achievement could differ materially from those expressed in or implied by these forward looking statements, and, accordingly, no assurance can be given that any of the events anticipated to occur or transpire as described in the forward looking statements will provide any benefits to the Trust or the Unitholders. Readers are cautioned that the foregoing list is not exhaustive of all possible risks and uncertainties. Additional information on these and other factors that could affect Dixie's operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

The forward looking statements or information contained in this news release are made as of the date hereof and Dixie undertakes no obligation to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise unless required by applicable securities laws. The forward looking statements or information contained in this news release are expressly qualified by this cautionary statement.

SOURCE Dixie Energy Trust

Ian Atkinson, President & CEO, T: 403 232 1010