TORONTO, CANADA – TheNewswire - June 26, 2024 – ONEnergy Inc. (“ONEnergy” or the “Company”) (NEX: OEG.H), today announced that the Company has received acceptance of its proposal (the “Proposal”) from the TSX Venture Exchange (the “Exchange”) and trading will be reinstated on the NEX.

On May 30, 2023, the Company, through B. Riley Farber Inc. as proposal trustee, filed a Proposal pursuant to the Bankruptcy and Insolvency Act (Canada) with the Official Receiver. On June 22, 2023, the Company held a Creditors’ Meeting whereby the Proposal was formally accepted by the required majorities of creditors in number and value. On January 23, 2024, the Proposal was approved by the Ontario Superior Court of Justice.

On June 26, 2024, the Company implemented the Proposal and satisfied its unsecured outstanding liabilities by issuing 124,277,690 common shares of the Company at a price of $0.085 per share/unit. The common shares that were issued to the Company’s directors, officers or consultants in connection with the Proposal are subject to a four-month hold period per the Exchange policies. The issuance of common shares by the Company are full and final satisfaction for all of the Company’s unsecured claims and all unsecured claims as against the Company incurred prior to June 26, 2024, have been forever released.

Following the issuance of the common shares, and the acceptance by the Exchange, trading will be reinstated on the NEX.

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.

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.