(TheNewswire)
TORONTO, CANADA – TheNewswire - January 26, 2024 – ONEnergy Inc. (“ONEnergy” or the "Company”) (NEX:OEG.H), today announced that the Company’s previously announced proposal (the “Proposal”) pursuant to the Bankruptcy and Insolvency Act (Canada) (the “BIA”) was approved by the Ontario Superior Court of Justice (the “Ontario Court”) on January 23, 2024.
The Proposal is still subject to the approval of the TSX Venture Exchange (the “Exchange”). Following the receipt of the requisite approval by the Exchange and pursuant to the Proposal, the Company plans to satisfy its unsecured outstanding liabilities in exchange for the issuance of common shares of the Company. The issuance of common shares by the Company shall be full and final satisfaction for all of the Company’s unsecured claims and all unsecured claims as against the Company will be forever released.
About ONEnergy Inc.
ONEnergy common shares are listed on the NEX board of the TSX Venture Exchange under the symbol “OEG.H”. Material information about ONEnergy can be found on SEDAR+ under the Company’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 from trading pending implementation of the Proposal.
For additional information please contact:
Ray de Ocampo, Chief Financial Officer, irinfo@onenergyinc.com, +1 (647) 253-2534
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements in this news release include, but are not limited to, statements about the business and operations of the Company and the Proposal to its creditors. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements and there can be no assurance that such expectations will prove to be correct. The forward-looking statements contained in this news release are made as of the date hereof, and the Company 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, except a required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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