Hardie & Kelly One Earth Oil & Gas Inc.One Earth Oil & Gas Inc.

Notice of Intention to Make a Proposal

On November 5, 2015, One Earth Oil & Gas Inc. (the “Company” or “One Earth”) filed a Notice of Intention to Make a Proposal.  Hardie & Kelly Inc. has been appointed as Trustee under the proposal (the “Proposal Trustee”).

S. 69(1) of the Bankruptcy & Insolvency Act (the “Act”) provides the Company certain relief including the imposition of a Stay of Proceedings (the “Stay”) against the Company and its assets. Claims against the Company for payment of goods and services supplied to One Earth prior to November 5, 2015 are suspended and creditors are prohibited from continuing or commencing any actions or exercising any rights against the Company except with leave of the Court of Queen’s Bench of Alberta (the “Court”).

Proposal

On March 24, 2016, One Earth filed with the Office of the Superintendent of Bankruptcy a proposal (the “Proposal”) pursuant to the Act.  A copy of the Proposal, a condensed statement of the Company’s assets and liabilities, a Report of the Proposal Trustee and a Proof of Claim form can be found below under Creditor Documents.

Status Update as at April 27, 2016

A general meeting of the affected creditors of One Earth was held on April 14, 2016 at which time the statutory majority of creditors overwhelmingly approved the Proposal.  On April 27, 2016, the Court granted Orders approving the sale of assets contemplated in the Proposal and the Proposal itself.

To be eligible to receive any distributions from the Proposal, creditors having a claim against the Company should immediately submit a Proof of Claim form (Form 31 below) along with the appropriate supporting documentation to the Proposal Trustee.

For further information please contact Marc Kelly at 403-536-8510 or at mkelly@insolvency.net.

Commencing Documents

Court Applications

Court Orders

Reports of the Proposal Trustee

Creditor Documents