TORONTO, CANADA – ONEnergy Inc. (“ONEnergy” or the “Company”) (NEX:OEG.H), today announced that on August 18, 2021, the Ontario Securities Commission (the “OSC”) granted a full revocation of the cease trade order (the “CTO”) previously ordered against the company on May 6, 2019. Such revocation is applicable and effective in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland.
The CTO was issued due to the Company’s failure to meet its deadline to file its audited financial statements, associated management’s discussion and analysis, and the associated officer certifications (collectively, the “Annual Filings”) for the year ended December 31, 2018. The Company filed its Annual Filings for 2018 on December 1, 2020 but the CTO remained in place due to the Company’s failure to meet the deadline to file its interim financial statements, associated management’s discussion and analysis, and the associated officer certificates for the three-month periods (collectively, the “Interim Filings”) ended March 31, 2019, June 30, 2019, September 30, 2019, March 31, 2020, June 30, 2020 and September 30, 2020; and its Annual Filings for the year ended December 31, 2019.
On December 18, 2020, the Company filed its Interim Filings for the three-month periods ended March 31, 2019, June 30, 2019 and September 30, 2019. The Company filed its Annual Filings for the year ended December 31, 2019 on March 3, 2021. On March 17, 2021, the Company filed its Interim Filings for the three-month periods ended March 31, 2020, June 30, 2020 and September 30, 2020. The Company filed its Annual Filings for the year ended December 31, 2020 on April 29, 2021 and its Interim Filings for the three-month periods ended March 31, 2021 on May 26, 2021.
Copies of the Annual Filings and the Interim Filings are available under the Company’s SEDAR profile at www.sedar.com. The Company is coordinating with the TSX Venture Exchange (“Exchange”) with respect to reinstatement of trading on the NEX.
In addition, the Company has disposed the Gas & Power and Home Comfort subsidiaries and ceased the Energy Efficiency business by the end of 2019. The Company’s other subsidiaries – ONEnergy USA Holdings Inc., 2594834 Ontario Inc., and 10927040 Canada Inc. – have been inactive since their inception. The Company is seeking an active business that it deems has a higher probability of success compared to the Energy business. The Company has pursued several opportunities in the past and announced several letters of intent. However, none of these opportunities resulted in a successful transaction. Although it continues to pursue potential business opportunities, the Company currently is a shell issuer following the sale and termination of its business in 2019.
No regulatory authority has approved or disapproved the information contained in this news release.
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.sedar.com. ONEnergy’s corporate website may be found at www.onenergyinc.com.
For additional information please contact:
Stephen J.J. Letwin, Chairman, email@example.com
Ray de Ocampo, Chief Financial Officer, firstname.lastname@example.org, +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. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements in this news release relate to, among other things, statements about the Company’s expectations regarding its reinstatement to trading on the NEX. 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. Factors that could cause the actual results to differ materially from those in forward-looking statements include the ongoing evolution of the global COVID-19 pandemic. 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.