BRIEF-Onenergy Announces proposed acquisition of OZZ Electric Inc. By Reuters

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BRIEF-Onenergy Announces proposed acquisition of OZZ Electric Inc.

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BRIEF-Onenergy Announces proposed acquisition of OZZ Electric Inc.

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Dec 21 (Reuters) - Onenergy Inc OEG.V

* Onenergy Inc. announces proposed acquisition of Ozz Electric Inc.

* Onenergy Inc - anticipated as part of transaction, newco, which will hold spin out business, will complete a new listing application with exchange

* Onenergy Inc - expected combined entity, after completion of deal, will qualify as a Tier 1 industrial issuer pursuant to requirements of exchange

* Onenergy Inc - LOI contemplates that resulting issuer will issue 150.0 million common shares to shareholders of OZZ at a deemed price of $0.50 per share

* Completion of transaction would result in a reverse takeover Source text for Eikon: ID:nCCN1H5Jyy Further company coverage: OEG.V

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