ONEnergy Announces Expiration of Letter of Intent with Suske Parties

Tickers: XTSX:OEG
Tags: Oil & Gas

TORONTO / TheNewswire / January 14, 2019 - ONEnergy Inc. ("ONEnergy" or the "Company") (TSXV: OEG) today announced the expiration of its previously announced letter of intent with Suske Capital Inc. ("Suske Capital"), on behalf of certain Suske Capital subsidiaries and other entities (collectively, the "Suske Parties"). The parties continue to explore mutually beneficial alternatives.

Trading in the common shares of ONEnergy ("Shares") were halted on April 26, 2018 on the announcement of ONEnergy's intent to enter into a transaction with the Suske Parties. The Shares are expected to resume trading as soon as disclosure and other regulatory requirements can be completed to the satisfaction of the TSX Venture Exchange.

ONEnergy remains committed to delivering new value to shareholders of the Company and is currently evaluating opportunities and will update shareholders when the Company has completed this evaluation.

About ONEnergy

ONEnergy is an energy management firm serving commercial, industrial, multi-residential and residential clients via its ONEnergy(TM) and Sunwave(TM)-branded energy and energy-efficiency businesses. ONEnergy specializes in helping customers use energy more wisely by minimizing their energy consumption and then cost-effectively managing the balance. ONEnergy serves customers in both Canada and the United States, with offices in Toronto and Stamford, CT. ONEnergy's corporate website may be found at www.onenergyinc.com and you can learn more about Sunwave's offerings at www.gosunwave.com.

ONEnergy common shares are listed on the Exchange under the symbol "OEG". Material information pertaining to ONEnergy may be found on SEDAR under the Company's issuer profile at www.sedar.com.

For information, please contact:

Stephen J.J. Letwin, Chairman, irinfo@onenergyinc.com

Ray de Ocampo, Chief Financial Officer, rdeocampo@onenergyinc.com, (647) 253-2534

Beverly Brooks, Brooks Communications, brooks.communications@rogers.com, (416) 546-2336

The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of ONEnergy that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by ONEnergy at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by ONEnergy that actual results achieved will be the same in whole or in part as those forecast.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2019 TheNewswire - All rights reserved.

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