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Early Warning Press Release: Acquisition of Shares of ONEnergy Inc. by 2289274 Ontario Limited

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TORONTO, CANADA / ACCESSWIRE / November 19, 2014 / This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") by 2289274 Ontario Limited (the "Company"). On November 18, 2014, ONEnergy Inc. (the "Issuer") acquired substantially all of the assets of the Company (the "Assets") for $1.73 million (the "Transaction"). The purchase consideration for the Assets was satisfied by the issuance of 10,966,000 Multiple Voting Shares and 15,425,262 Subordinate Voting Shares of the Issuer, representing a combined 9.9% voting interest in the Issuer.

The 15,425,262 Subordinate Voting Shares of the Issuer (the "Securities") were acquired by the Company at a deemed price of $0.055 per share, and represent 12.2% of the issued and outstanding Subordinate Voting Shares of the Issuer. The Company did not own any securities of the Issuer prior to the date of the Transaction.

The Securities were acquired by the Company for investment purposes, and the Company may increase or decrease its ownership of Subordinate Voting Shares depending on market or other conditions.

The Company's registered office is 7200 Martin Grove Road, Woodbridge, Ontario, L4L 9J3.

A copy of the Early Warning Report may be found at www.sedar.com.

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.

 

SOURCE: ONEnergy Inc.