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 acquisition aligns with Olenox's strategy of integrating energy production, industrial infrastructure and digital technologies. The company noted that PsyLinks’ neurotechnology and applied intelligence capabilities complement its efforts to improve operational visibility, decision-making and future technology initiatives. Olenox also stated that 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.
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.
For more information, visit the company’s newsroom at https://ibn.fm/OLOX.
