OneRoof Energy Closes Financing Agreements

SAN DIEGO, Oct. 21, 2014 /CNW/ -- OneRoof Energy Group, Inc. ("OneRoof Energy Group") (TSXV:ON) announced today that it has closed a series of financing agreements to provide up to approximately US$16.7 million in financing.  This financing is being provided by Black Coral Capital LLC and affiliates of the Hanwha Group, which are existing investors in OneRoof Energy Group.

As announced in the Company's press release dated October 3, 2014, of the approximately US$16.7 million of financing, approximately US$6.5 million will be provided in the form of a working capital line of credit (the "Working Capital Facility").  The lenders under the Working Capital Facility will be issued 1,107,194 bonus warrants, with each bonus warrant entitling the lenders to purchase one common share of OneRoof Energy Group.  The bonus warrants will have an exercise price equal to CN$1.25. These bonus warrants are non-transferrable and will expire if not exercised on or prior to December 31, 2014.  The lenders will receive additional warrants for any future loans made pursuant to the Working Capital Facility subject to TSXV approval and the exercise price for such bonus warrants will be the closing price of OneRoof Energy Group's common shares on the day before the applicable loan. 

About OneRoof Energy
OneRoof Energy Group, operating through its wholly-owned subsidiary, OneRoof Energy, Inc. ("OneRoof Energy"),  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 Energy 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 Energy serves residential customers in five states including Arizona, California, Hawaii, Massachusetts 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, including those that express management's expectations or estimates regarding OneRoof Energy Group's and OneRoof Energy's future performance, 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 Contact:
Dan Halvorson
Executive Vice President & CFO
OneRoof Energy Group, Inc.
858-926- 7660 (Direct)
[email protected]

Karen Fisher
Vice President, Investor Relations & Compliance
OneRoof Energy Group, Inc.
858-926-7541 (Direct)
[email protected]

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SOURCE OneRoof Energy Group, Inc.