TORONTO, CANADA (January 31, 2014) - ONEnergy Inc. ("ONEnergy" or the "Corporation") (TSXV: OEG and OEG.A) today reported that C. Fraser Elliott has resigned as Chief Financial Officer effective February 1, 2014. Mr. Elliott's duties will be assumed by Ray de Ocampo, ONEnergy's current Vice President, Finance. Mr. de Ocampo, was Vice President, Finance of Sunwave Gas & Power Inc. ("Sunwave"), which was acquired by ONEnergy. Mr. de Ocampo is a Chartered Accountant and brings extensive experience in the industry.
Mr. Elliott was previously the Chief Financial Officer of ONEnergy's predecessor company Look Communications Inc. and assisted in the acquisition of Sunwave Gas & Power Inc. in July 2013. At that time Mr. Elliott became the Chief Financial Officer of ONEnergy, remaining until the transition was complete. Mr. Elliott will continue to assist ONEnergy in a consulting role through July 31, 2014.
"I would like to thank Mr. Elliott for his assistance in negotiating and completing the acquisition of Sunwave and in the creation of ONEnergy," said Mark Lewis, Chief Executive Officer of ONEnergy. "I wish him every success in the future as he pursues his other business activities."
The Corporation also announced it has appointed Spinnaker Capital Markets Inc. ("Spinnaker") as its capital markets and investor relations advisor.
The agreement is for a term of twelve months from February 3, 2014 to February 3, 2015 plus a 60 day notice period. Spinnaker's mandate will focus on developing and expanding the network of investors, analysts, and financial intermediaries who are interested in following the ONEnergy growth and investment story. The agreement also provides for a full range of services for a monthly fee of $7,000.
"We are pleased to have been selected by ONEnergy as investor relations and capital markets advisors and look forward to a long and successful relationship," noted Ali Mahdavi, Managing Partner at Spinnaker Capital Markets.
"With an impressive track record of helping Canadian public companies build and grow solid, long term relationships with investors and the financial community, Spinnaker was a natural choice for ONEnergy as our investor relations partner. We are committed to ensuring current and future investors have the benefit of a complete picture of the growth of ONEnergy's business across North America," said Mark Lewis, Chief Executive Officer of ONEnergy.
About ONEnergy Inc.
ONEnergy, through Sunwave (www.gosunwave.com), is a licensed provider of innovative energy products to residential, industrial and commercial customers. ONEnergy is licensed to provide natural gas and electricity in Ontario and electricity in Connecticut, and has pending electric supplier licensing applications in Pennsylvania, Massachusetts and New York.
ONEnergy shares are listed on the TSX Venture Exchange under the symbols "OEG" for Multiple Voting Shares and "OEG.A" for Subordinate Voting Shares. ONEnergy's website may be found at www.onenergyinc.com.
About Spinnaker
Spinnaker is Toronto based advisory firm which provides TSX and TSX.V listed companies with an array of advisory services from investor relations to strategically positioning its portfolio of companies for maximum exposure amongst targeted research analysts, and retail and institutional investors. Spinnaker has long-standing relationships with Canadian, American and European investment banking, asset management and retail brokerage firms with focus on the small to mid capitalization market segment.
Mark Lewis
Chief Executive Officer
ONEnergy Inc.
(416) 444-8810
Ali Mahdavi
Managing Partner
Spinnaker Capital Markets Inc.
(416) 962-3300