ONEnergy Inc. Receives Exchange Approval for Previously Announced Share Consolidation and Capital Reorganization

TORONTO, ONTARIO--(Marketwired - May 21, 2015) - ONEnergy Inc. ("ONEnergy" or the "Corporation") (TSX VENTURE:OEG)(TSX VENTURE:OEG.A), announces that it has received TSX Venture Exchange (the "TSXV") approval for the previously announced Capital Reorganization (as defined below) and Share Consolidation (as defined below).

As announced at its annual and special meeting of shareholders held on May 19, 2015 shareholders of the Corporation approved, among other matters, resolutions reorganizing the share capital of ONEnergy such that:

• re-designating the Corporation's Subordinate Voting Shares ("SV Shares") as common shares of ONEnergy ("Common Shares");
• exchanging each multiple voting share ("MV Share") of ONEnergy for a Common Shares on a one-for-one basis (together with item 1 above, the "Capital Reorganization"); and
• consolidating the Common Shares at a ratio of ten old Common Shares for one new Common Share (the "Share Consolidation").

The combined effect of implementation of the Capital Reorganization and the Share Consolidation will be to change the capital structure of the Corporation from the currently issued 128,611,966 SV Shares and 113,209,071 MV Shares to approximately 24,182,104 Common Shares on a post-consolidation basis. No fractional Common Shares will be issued, and no cash will be paid in lieu of fractional post-consolidation Common Shares. The number of post-consolidation Common Shares to be received by a shareholder will be rounded up to the nearest whole Common Share. The Corporation also has outstanding options to purchase 18,884,910 subordinate voting shares, equal to 1,888,491 Common Shares on a post-consolidation basis, and deferred share units to acquire up to 612,500 subordinate voting shares, equal to 61,250 Common Shares on a post-consolidation basis. The Corporation does not intend to change its name and will use a single trading symbol ("OEG") in connection with the Share Consolidation. The new ISIN number for the Common Shares is CA 68268C1077 and the new CUSIP number is 268268C107.