Olenox Industries (NASDAQ: OLOX) announced the completion of its acquisition of PsyLinks Neurotech Corp., which will now operate as a wholly owned subsidiary. Under the share exchange agreement, Olenox acquired all outstanding shares of PsyLinks in exchange for approximately $500,000 in restricted common stock. The transaction underscores Olenox's commitment to integrating advanced technology into its energy and infrastructure operations.
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. Their expertise in neurotechnology and applied intelligence is expected to play a key role in Olenox's strategy to combine energy production, industrial infrastructure, and digital technologies. The company aims to improve operational visibility, decision-making, and support future technology initiatives through this integration.
The acquisition was reviewed and approved by the independent members of Olenox's board due to its potential classification as a related-party transaction under SEC rules. This careful oversight ensures compliance with regulatory standards while advancing the company's technological capabilities.
Olenox Industries is a vertically integrated energy company operating across multiple business lines, including oil and gas, energy services, and energy technologies. The company focuses on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets. The addition of PsyLinks' neurotechnology capabilities is expected to enhance Olenox's ability to monitor and optimize its operations through advanced data analysis and decision-support tools.
For more information, visit https://ibn.fm/OLOX for the latest news and updates on Olenox Industries. The full press release regarding this acquisition is available at https://ibn.fm/xxUO6.
