Mr. Mark Lewis reports

ONENERGY INC. RECEIVES EXCHANGE APPROVAL FOR PREVIOUSLY ANNOUNCED SHARE CONSOLIDATION AND CAPITAL REORGANIZATION

ONEnergy Inc. has received TSX Venture Exchange approval for the previously announced capital reorganization (as defined below) and share consolidation (as defined below).

As announced at its annual and special meeting of shareholders held on May 19, 2015, shareholders of the corporation approved, among other matters, resolutions reorganizing the share capital of ONEnergy:

• Redesignating the corporation's subordinate voting (SV) shares as common shares of ONEnergy;
• Exchanging each multiple voting (MV) share of ONEnergy for a common shares on a 1-for-1 basis;
• Consolidating the common shares at a ratio of 10 old common shares for one new common share.

The combined effect of implementation of the capital reorganization and the share consolidation will be to change the capital structure of the corporation from the currently issued 128,611,966 SV shares and 113,209,071 MV shares to approximately 24,182,104 common shares on a postconsolidation basis. No fractional common shares will be issued, and no cash will be paid in lieu of fractional postconsolidation common shares. The number of postconsolidation common shares to be received by a shareholder will be rounded up to the nearest whole common share. The corporation also has outstanding options to purchase 18,884,910 subordinate voting shares, equal to 1,888,491 common shares on a postconsolidation basis, and deferred share units to acquire up to 612,500 subordinate voting shares, equal to 61,250 common shares on a postconsolidation basis. The corporation does not intend to change its name and will use a single trading symbol (OEG) in connection with the share consolidation. The new ISIN (international securities identification number) for the common shares is CA 68268C1077, and the new Cusip number is 268268C107.

The common shares will begin trading on the TSX-V on a postconsolidated basis effective at the open of trading on May 28, 2015. Letters of transmittal will be mailed out to registered shareholders of the corporation by the corporation's stock transfer agent, Computershare Investor Services Inc., which letter of transmittal enables registered shareholders to exchange their share certificates representing MV shares or SV shares for new share certificates representing the postconsolidation common shares, in accordance with the instructions set forth in the letter of transmittal. Shareholders who hold their MV shares and/or SV shares through a broker or other intermediary, and do not have MV shares and/or SV shares registered in their name, will not need to complete a letter of transmittal, as the exchange will be completed by their broker or intermediary.

We seek Safe Harbor.