Company begins wind down of operations
SAN DIEGO, Dec. 16, 2016 /CNW/ -- OneRoof Energy, Inc. ("OneRoof" or the "company"), a residential solar services provider and wholly-owned subsidiary of OneRoof Energy Group, Inc. ("OneRoof Energy") (TSXV: ON) today announced that it has significantly reduced its work force as it begins to wind down its active operations. The company has thus far been unable to secure the significant additional financing necessary to continue its ordinary course sales, marketing and development operations and is thus considering various measures to preserve cash in an effort to maximize the value of its assets.
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.
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 Contact:
President and Chief Executive Officer
OneRoof Energy Group, Inc.
SOURCE OneRoof Energy, Inc.