TORONTO, CANADA – TheNewswire - (April 27, 2022) – ONEnergy Inc. (“ONEnergy” or the "Company”) (NEX:OEG.H), today announced that it has filed its financial results for the year ended December 31, 2021.

Financial results

For the three-month period ended December 31, 2021, total loss and comprehensive loss were $0.4 million compared to total loss and comprehensive loss of $0.3 million during same period in 2020.

For the twelve-month period ended December 31, 2021, revenue from continuing operations was $Nil compared to $1,000 during the same period in 2020.  Total loss and comprehensive loss for the twelve-month period ended December 31, 2021 amounted to $1.5 million compared to total loss and comprehensive loss of $1.2 million during the same period in 2020.  

For further information on the financial results of the Company, please review the Company’s audited consolidated financial statements and management’s discussion and analysis of financial condition and results of operations for the years ended December 31, 2021 and 2020, available under the Company’s profile on www.sedar.com.

Non-convertible debt financing

Between November 25, 2021 and April 27, 2022, Stephen J.J. Letwin, a director and Chairman of the Board of Directors, provided loans to the Company aggregating to $280,000.  These loans are not convertible into securities of the Company, are unsecured, bear an annual interest rate at 10%, and are due on demand.

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:

Ray de Ocampo, Chief Financial Officer, irinfo@onenergyinc.com, +1 (647) 253-2534

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.

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.  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.