/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/
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 at www.sedar.com.
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 release.
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