Olenox Industries (NASDAQ: OLOX) announced the completion of its acquisition of PsyLinks Neurotech Corp., which will operate as a wholly owned subsidiary following the transaction. Under the share exchange agreement, Olenox acquired all outstanding PsyLinks shares in exchange for approximately $500,000 in restricted common stock. PsyLinks founders Dr. Michael McLaren-Gradinaru and Dr. Ford Burles have joined Olenox as vice president of technology and vice president of product development, respectively.
The company said PsyLinks’ neurotechnology and applied intelligence capabilities complement its strategy of integrating energy production, industrial infrastructure and digital technologies to improve operational visibility, decision-making and future technology initiatives. Olenox also noted the acquisition was reviewed and approved by the independent members of its board due to its potential classification as a related-party transaction under SEC rules.
To view the full press release, visit https://ibn.fm/bn9dr
About Olenox Industries Inc.
Olenox Industries Inc. (NASDAQ:OLOX) is a vertically integrated energy company operating across multiple business lines, including oil and gas, energy services, and energy technologies. The Company is focused on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets.
NOTE TO INVESTORS: The latest news and updates relating to OLOX are available in the company’s newsroom at https://ibn.fm/OLOX
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