ONEnergy Inc. announced details of a non-convertible unsecured loan by way of a promissory note in the aggregate amount of $1.2 million, to be advanced by one of its directors. Pursuant to the terms and conditions of the promissory note, Mr. Stephen J.J. Letwin, the company's Chairman and interim CEO, agreed to provide the company with an unsecured loan in the amount of $1,200,000. The Letwin Loan is not convertible for securities of the company, will pay an annual interest rate of 12% (calculated daily), and is repayable on demand and, in any case, will be due no later than January 31, 2019. The proceeds from the Letwin Loan will be used to repay the company's convertible note that was issued in the principal amount of $1.2 million on August 3, 2017. The company expects to use proceeds from the sale of the company's Home Comfort and Gas & Power businesses, in part, to repay the Letwin Loan.