OneRoof Energy Group, Inc. Closes Financing

May 14, 2015, 19:11 ET from OneRoof Energy, Inc.

SAN DIEGO, May 14, 2015 /PRNewswire/ -- OneRoof Energy, Inc. ("OneRoof" or the "Company"), a residential solar services provider and wholly owned subsidiary of OneRoof Energy Group, Inc. ("OneRoof Energy") (TSXV: ON) today announced that it has completed a previously announced private placement of convertible notes (the "Note Offering").  Specifically, convertible notes in the principal amount of US$3,155,551 (the "Notes") were issued by OneRoof Energy in exchange for the same amount of existing indebtedness owed by OneRoof Energy, and its subsidiaries, to Spindrift Equities, LLC, an existing investor in OneRoof Energy.  Each Note has a term of 43 months and is convertible into Common Shares at the option of the holder at the conversion price of CDN$0.095 per Common Share for the first year after the closing of the Note Offering and at a conversion price of CDN$0.10 per Common Share for the remainder of the term of the Note.

The Company received no additional cash proceeds from this financing.  All securities issued pursuant to the private placement are subject to a statutory hold period of four months pursuant to Canadian securities laws, as well as any statutory hold periods mandated by relevant U.S. securities laws.

About OneRoof Energy

OneRoof Energy, Inc., a  wholly-owned subsidiary of OneRoof Energy Group, Inc., is a complete solar services provider offering homeowners everything from traditional and lease financing, PPAs, solar system design and installation project management to ongoing system monitoring and maintenance services. Utilizing its technology-rich, solar leasing fulfillment platform, OneRoof is partnering with traditional energy retailers and home services companies of all sizes to offer residential customers affordable, renewable energy choices.   With its unique end-to-end energy solution, the Company has created multiple touch points to offer cost-saving energy products and services that create a seamless experience for the homeowner while fulfilling their unique energy needs.  Currently, OneRoof serves residential customers in seven states including Arizona, California, Hawaii, Massachusetts, New Jersey, Connecticut and New York with plans for additional expansion. For more information, visit www.oneroofenergy.com

Caution Regarding Forward-Looking Information

Certain statements contained in this document, are "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is necessarily based on a certain number of estimates and assumptions, which while considered plausible by the management when they are made, are inherently subject to significant commercial, economic and competitive risks and uncertainties. We advise investors not to rely unduly on forward-looking information. The Company further declines any intention or obligation to publicly update this forward-looking information, whether due to new information, or future or other events, unless required by applicable law.

Neither the TSX Venture Exchange nor its regulation service provider (as these terms are defined in policies of the TSX Venture Exchange) bears responsibility for the adequacy or accuracy of this press release.

Investor Relations Contacts:
Dan Halvorson
Executive Vice President & CFO
OneRoof Energy Group, Inc.
858-926-7660 (Direct)
dhalvorson@oneroofenergy.com

Karen Fisher
Vice President, Investor Relations & Compliance
OneRoof Energy Group, Inc.
858-926-7541 (Direct)
kfisher@oneroofenergy.com

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SOURCE OneRoof Energy, Inc.



RELATED LINKS

http://www.oneroofenergy.com