SAN DIEGO, June 9, 2015 /CNW/ -- OneRoof Energy Group, Inc. (TSXV: ON) ("OneRoof" or the "Company") operating through its wholly owned subsidiary, OneRoof Energy, Inc., a residential solar services provider, today announced that it has closed the previously announced settlement of outstanding debt for common shares in the Company ("Common Shares"). The promissory note issued to Hanwha Holdings (USA), Inc. ("Hanwha") on May 21, 2015, in the amount of US$1,915,778, has been exchanged in full, including accrued interest, for 36,425,254 Common Shares at a price of CDN$0.07 per Common Share, which was the share price on May 21, 2015.
About OneRoof Energy
OneRoof Energy, Inc., a wholly-owned subsidiary of OneRoof Energy Group, Inc., is a complete solar services provider offering homeowners everything from traditional and lease financing, PPAs, solar system design and installation project management to ongoing system monitoring and maintenance services. Utilizing its technology-rich, solar leasing fulfillment platform, OneRoof is partnering with traditional energy retailers and home services companies of all sizes to offer residential customers affordable, renewable energy choices. With its unique end-to-end energy solution, the Company has created multiple touch points to offer cost-saving energy products and services that create a seamless experience for the homeowner while fulfilling their unique energy needs. Currently, OneRoof serves residential customers in seven states including Arizona, California, Hawaii, Massachusetts, New Jersey, Connecticut and New York with plans for additional expansion. For more information, visit www.oneroofenergy.com.
Caution Regarding Forward-Looking Information
Certain statements contained in this document, are "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is necessarily based on a certain number of estimates and assumptions, which while considered plausible by the management when they are made, are inherently subject to significant commercial, economic and competitive risks and uncertainties. We advise investors not to rely unduly on forward-looking information. The Company further declines any intention or obligation to publicly update this forward-looking information, whether due to new information, or future or other events, unless required by applicable law.
Neither the TSX Venture Exchange nor its regulation service provider (as these terms are defined in policies of the TSX Venture Exchange) bears responsibility for the adequacy or accuracy of this press release.
Investor Relations Contacts:
Executive Vice President & CFO
OneRoof Energy Group, Inc.
Vice President, Investor Relations & Compliance
OneRoof Energy Group, Inc.
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