ONEnergy Inc. Announces Update To Proposed Reverse Takeover Transaction

(TheNewswire)

TORONTO, ONTARIO, October 30, 2025 - TheNewswire - ONEnergy Inc. (TSXV NEX:OEG.H) (“ ONE ” or the “ Company ”) provides an update on the proposed acquisition of two gold projects, being theGolden Heart Property and the Bingo Gold Deposit from MatrixsetInvestment Corporation (“ Matrixset ”), which will constitute a reversetakeover of the Company (the “ Transaction ”), previously disclosed in theCompany’s news releases dated July 2, 2025 and August 8, 2025.  TheCompany and Matrixset have entered into an extension agreementextending the letter of intent with respect to the Transaction untilDecember 31, 2025. The parties continue to work towards thepreparation and signing of the definitive agreement (the “ DefinitiveAgreement ”) and will provide further updatesonce available.

Completion of the Transaction is subject to a number ofconditions, including, among other items, the entering into aDefinitive Agreement and receipt of all required regulatory andthird-party consents, including approval of the Transaction by the TSXVenture Exchange (the “ TSXV ”) and the listing of the Company on theTSXV as a Tier 1 Mining issuer.

About ONEnergy Inc.

ONE’s common shares are listed on the NEX board ofthe TSXV under the symbol “OEG.H”.

For additional information please contact:
Ray de Ocampo, CFO ONEnergy Inc. at irinfo@onenergyinc.com , 416-444-4848.

About Matrixset InvestmentCorporation

Matrixset is a private company focused on theacquisition and development of gold claims and resource properties inCanada

Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.

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