Tickers: XTSX:OEG
Tags: #Oil&Gas
Toronto, Ontario / TheNewswire / May 1, 2019 - ONEnergy Inc. ("ONEnergy" or the "Company") (TSX-V: OEG) announced today that its audited financial statements, CEO and CFO certifications, and management discussion and analysis (the "Annual Filings") for the year ended December 31, 2018 was not released as scheduled on April 30, 2019. The Company currently anticipates being able to file the Annual Filings on or before June 30, 2019.
The reason for the default in filing these statements prior to the required date, is that the Company has insufficient capital to cover the cost of the audit and expects to raise the capital to pay, among other items, the cost of this audit. The Company anticipates having adequate funds to pay the cost of the audit and having the audit commence on or before May 21, 2019.
As a result of the delay, the Company expects the Ontario Securities Commission ("OSC") to issue a Failure-to-File Cease Trade Order ("FFCTO") against the Company for failure to file its Annual Filings. The FFCTO affects all securities of the Company and will remain in effect until such time as the Company has filed the Annual Filings.
About ONEnergy
ONEnergy common shares are listed on the TSX Venture Exchange under the symbol "OEG". Material information about ONEnergy may be found on SEDAR under the Company's issuer profile at www.sedar.com.
For information, please contact:
Stephen J.J. Letwin, Chairman, irinfo@onenergyinc.com
Ray de Ocampo, Chief Financial Officer, irinfo@onenergyinc.com, (647) 253-2534
Beverly Brooks, Brooks Communications, brooks.communications@rogers.com, (416) 546-2336
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of ONEnergy that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by ONEnergy at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by ONEnergy that actual results achieved will be the same in whole or in part as those forecast.
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