/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
TORONTO, July 10, 2013 /CNW/ - ONEnergy Inc., formerly Look
Communications Inc. ("ONEnergy") (NEX: LOK.H and LOK.K) today announced
that it has received the final acceptance of the TSX Venture Exchange
(the "Exchange") for the previously announced acquisition of Sunwave
Gas & Power Inc. ("Sunwave") and concurrent $9 million private
placement at $0.14 per share (collectively, the "Transactions"), which
was completed on July 9, 2013.
The multiple voting shares and subordinate voting shares of ONEnergy
will be listed and posted for trading on Tier 1 of the Exchange under
the symbols "OEG" and "OEG.A", respectively, commencing at the opening
of trading on Friday, July 12, 2013.
All of the terms and conditions of the Transactions are set forth in the
purchase agreement and the form of subscription agreement, copies of
which are available under ONEnergy's profile at www.sedar.com. Additional information regarding the Transactions and the businesses
of ONEnergy and Sunwave is included in the information circular dated
June 7, 2013 which was prepared in connection with the Transactions
(the "Circular"), a copy of which is available under ONEnergy's profile
About ONEnergy Inc.
ONEnergy's shares are currently listed on the NEX under the symbols
"LOK.H" for multiple voting shares and "LOK.K" for subordinate voting
shares. The multiple voting shares and subordinate voting shares will
be listed and posted for trading on Tier 1 of the Exchange under the
symbols "OEG" and "OEG.A", respectively, commencing at the opening of
trading on Friday, July 12, 2013. ONEnergy's website may be found at www.grouplook.ca. ONEnergy's new website www.onenergyinc.com, is expected to be fully operational within the next week. At that
time, investors will be able to access all historical information as
well as updated, ongoing information regarding ONEnergy.
Investors are cautioned that, except as disclosed in the Circular, any
information released or received with respect to the Transactions may
not be accurate or complete and should not be relied upon. Trading in
the securities of ONEnergy should be considered highly speculative.
The Exchange has in no way passed upon the merits of the Transactions
and has neither approved nor disapproved the contents of this news
The information contained in this release includes forward-looking
statements regarding future events, including the listing and posting
for trading on the Exchange of ONEnergy's multiple voting shares and
subordinate voting shares, that involve risks and uncertainties that
could cause actual events or results to differ materially. Assumptions
used in the preparation of such information, although considered
reasonable by ONEnergy and Sunwave at the time of preparation, may
prove to be incorrect. The actual events or results achieved may vary
from the information provided herein and the variations may be
material. Consequently, there is no representation by ONEnergy or
Sunwave that actual events or results achieved will be the same in
whole or in part as those forecast.
Neither the NEX nor its Regulation Services Provider (as that term is
defined in the policies of the NEX) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE: ONEnergy Inc.
For further information:
C. Fraser Elliott
Chief Financial Officer