(TheNewswire)
TORONTO, CANADA – TheNewswire - June 26, 2024 – ONEnergy Inc. (“ ONEnergy ” or the“ Company ”) (NEX: OEG.H), today announced that the Company hasreceived acceptance of its proposal (the “ Proposal ”) from theTSX Venture Exchange (the “ Exchange ”) and trading will be reinstated onthe NEX.
On May 30, 2023, the Company, through B. Riley FarberInc. as proposal trustee, filed a Proposal pursuant to the Bankruptcy and Insolvency Act (Canada) withthe Official Receiver. On June 22, 2023, the Company held aCreditors’ Meeting whereby the Proposal was formally accepted by the required majorities of creditors in number and value. On January 23, 2024, theProposal was approved by the Ontario Superior Court of Justice.
On June 26, 2024, the Company implemented the Proposaland satisfied its unsecured outstanding liabilities by issuing124,277,690 common shares of the Company at a price of $0.085 pershare/unit. The common shares that were issued to the Company’sdirectors, officers or consultants in connection with the Proposal aresubject to a four-month hold period per the Exchange policies. Theissuance of common shares by the Company are full and finalsatisfaction for all of the Company’s unsecured claims and allunsecured claims as against the Company incurred prior to June 26,2024, have been forever released.
Following the issuance of the common shares, and theacceptance by the Exchange, trading will be reinstated on theNEX.
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 .
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 anyforward-looking 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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