CBL to Acquire Water Exchange H2OX, on M&A Growth Path

SYDNEY, NEW YORK – 18/19 September 2017 – CBL, a leading spot exchange operator for environmental commodity markets, today announced it has signed an implementation agreement pursuant to which it will acquire a controlling interest in the Australian water exchange, H2OX Markets Limited (“H2OX”).

This acquisition is a natural progression for CBL into the broader soft commodity space, expanding its product set beyond energy and environmental markets, which remains a core focus for the company. It provides a unique opportunity to build transactional capability and cross-trading opportunities for market participants in both Australia and the US.

Australia has the most advanced and active water trading market in the world. H2OX was established to bring transparency, independence, efficiency and price discovery to the Australian water market and it has played a key role in streamlining the market for owners and users of water including farmers, irrigators and brokers.

“This is an exciting development for CBL, and a natural fit for the Company as it further establishes itself as a leading spot trading platform for energy and environmental products, as well as other soft commodities.” said Donald H. Putnam, Chairman of CBL Markets.

“The acquisition of H2OX brings scale and immediate access to a growing commodity market which will help take the business to the next level in its growth”.

To assist CBL in the execution of its strategy, CBL has appointed Wilsons Advisory (“Wilsons”) and Aitken Murray Capital Partners (“Aitken Murray”) as financial advisors, to assist the Company with its capital requirements to facilitate its growth strategy including targeted acquisitions.

CBL Markets has made a number of strategic announcements over the last 12 months, including partnerships with the Chicago Mercantile Exchange (“CME”) Group and US registry APX, as well as the revamp of its Board appointing financial market professionals Donald H. Putnam, Larry Leibowitz and Jack Klinck and energy and environmental markets expert John Melby.

About CBL
CBL is a global exchange providing market participants with access to the world’s environmental commodity markets. With a vision of bringing efficiency, transparency and liquidity to environmental markets, our exchange connects buyers and sellers around the world to facilitate the secure and seamless trading of environmental commodities, including Compliance Carbon, Voluntary Carbon, Renewable Energy and Water. For more information please visit cblmarkets.com or follow us on Twitter (@cblmarkets).