Olenox Industries (NASDAQ: OLOX) announced today the completion of its acquisition of PsyLinks Neurotech Corp., which will operate as a wholly owned subsidiary. 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 acquisition aligns with Olenox's strategy of integrating energy production, industrial infrastructure, and digital technologies to improve operational visibility, decision-making, and future technology initiatives. PsyLinks' neurotechnology and applied intelligence capabilities are expected to complement these efforts. The transaction 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.
Olenox Industries is a vertically integrated energy company operating across 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. For more information, visit the company's newsroom at https://ibn.fm/OLOX.
The full press release detailing the acquisition is available at https://ibn.fm/xxUO6.
