(TheNewswire)
TORONTO, CANADA – TheNewswire - January 26, 2024 –ONEnergy Inc. (“ ONEnergy ” or the " Company ”)(NEX:OEG.H), today announced that the Company’s previously announcedproposal (the “ Proposal ”) pursuant to the Bankruptcy and Insolvency Act(Canada) (the “ BIA ”) was approvedby the Ontario Superior Court of Justice (the “ Ontario Court ”) onJanuary 23, 2024.
The Proposal is still subject to the approval of theTSX Venture Exchange (the “ Exchange ”). Following the receipt of therequisite approval by the Exchange and pursuant to the Proposal, theCompany plans to satisfy its unsecuredoutstanding liabilities in exchange for the issuance of common shares of the Company. The issuance of common sharesby the Company shall be full and final satisfaction for all of theCompany’s unsecured claims and all unsecured claims as against theCompany will be forever released.
About ONEnergy Inc.
ONEnergy common shares are listed on the NEX board ofthe TSX Venture Exchange under the symbol “OEG.H”. Materialinformation about ONEnergy can be found on SEDAR+ under theCompany’s issuer profile at www.sedarplus.ca . ONEnergy's corporate website may be found at www.onenergyinc.com .
The Company’s common shares remain halted fromtrading pending implementation of the Proposal.
For additional information pleasecontact:
Ray de Ocampo, Chief Financial Officer,irinfo@onenergyinc.com, +1 (647) 253-2534
This news release contains certain"forward-looking information" and "forward-lookingstatements" (collectively "forward-looking statements")within the meaning of applicable securities legislation. Forward-looking statements in this news release include, but are notlimited to, statements about the business and operations of theCompany and the Proposal to its creditors. Although the Companybelieves that the expectations reflected in these forward-lookingstatements are reasonable, undue reliance should not be placed on themas actual results may differ materially from the forward-lookingstatements and there can be no assurance that such expectations willprove to be correct. The forward-looking statements contained in thisnews release are made as of the date hereof, and the Companyundertakes no obligation to update publicly or revise any forwardlooking statements or information, whether as a result of newinformation, future events or otherwise, except a required byapplicable securities laws. The forward-looking statements containedin this news release are expressly qualified by this cautionarystatement.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
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