ONEnergy Inc., the parent of Sunwave Gas & Power, announced its intention to make a Normal Course Issuer Bid ("NCIB") to repurchase its common shares through the facilities of the TSX Venture Exchange. ONEnergy’s NCIB has received Exchange approval.

Under the terms of the Exchange-approved NCIB the maximum number of common shares that may be purchased by ONEnergy is that number of common shares representing 5.00% of the common shares of the Corporation issued and outstanding as at the date that the Exchange approved the NCIB. Based on the 24,182,507 common shares issued and outstanding as at October 7, 2015, the maximum number of shares that may be purchased under the NCIB is 1,209,125.

Although ONEnergy intends to purchase common shares under its NCIB, there can be no assurances that any such purchases will be completed. Such purchases, if any, may commence on October 12, 2015 and will terminate on October 7, 2016, or on such earlier date as ONEnergy may complete its purchases pursuant to the NCIB or provides notice of termination. Any such purchases will be made in accordance with the rules of the Exchange by ONEnergy at the prevailing market price at the time of acquisition and through the facilities of the Exchange. ONEnergy intends that any shares acquired pursuant to the NCIB will be cancelled. ONEnergy has not previously repurchased any of its common shares during the twelve months preceding the date of the notice of the NCIB filed with the Exchange. The common share purchases by ONEnergy, if any, will be made through Paradigm Capital Inc.

"ONEnergy has initiated this NCIB as it believes that its common shares have been trading in a price range that does not adequately reflect the underlying value of such shares in relation to the business of ONEnergy and its future business prospects," the company said

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ONEnergy   Sunwave Gas & Power  

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