SAN DIEGO, Nov. 11, 2016 /CNW/ -- OneRoof Energy, Inc. ("OneRoof"), a residential solar services provider and wholly-owned subsidiary of OneRoof Energy Group, Inc. (TSXV:ON) announced today that it has been served with an arbitration demand from Trinity Heating & Air, Inc., d/b/a Trinity Solar ("Trinity"), alleging various claims for breach of contract and common law fraud and seeking over USD$12.5 million in damages. Trinity is a solar dealer and installer that previously offered OneRoof's solar financing products in various markets pursuant to a master development and installation agreement. OneRoof believes the claims are without merit and intends to defend these claims vigorously, including by bringing various counterclaims against Trinity.
About OneRoof Energy
OneRoof Energy, Inc., a wholly-owned subsidiary of OneRoof Energy Group, Inc., is a solar services provider dedicated to its "Solar 2.0" approach: an innovative model that enables consumer services companies in various verticals to sell residential solar while confidently relying on their solar partner for implementation. OneRoof uses its proven technology platform, big data and proprietary systems to help its partners reach out to their customers who can benefit from solar while building a channel into the home for 20 years. OneRoof provides its partners with customized, turn-key solutions, offering homeowners a suite of financing options, including traditional loan, lease and PPA financing together with system design, installation management and ongoing system monitoring and maintenance. OneRoof is based in San Diego, California, and serves residential customers in nine states: Arizona, California, Connecticut, Hawaii, Maryland, Massachusetts, New Jersey, New York and Pennsylvania with plans for additional expansion. For more information, visit www.oneroofenergy.com.
Caution Regarding Forward-Looking Information
Certain statements contained in this document, including those that express management's expectations or estimates regarding the Company's future performance, 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.
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President and Chief Executive Officer
OneRoof Energy Group, Inc.
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