Olenox Industries (NASDAQ: OLOX) announced 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. The transaction reflects Olenox's strategy of integrating energy production, industrial infrastructure, and digital technologies to improve operational visibility and decision-making.
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 highlighted that PsyLinks’ neurotechnology and applied intelligence capabilities complement its existing operations. Olenox 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.
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. This acquisition marks a strategic move to incorporate advanced neurotechnology into its energy operations, potentially enabling better monitoring and control of industrial processes.
For more details, the full press release is available at https://ibn.fm/xxUO6. Investors can find the latest news and updates regarding OLOX in the company’s newsroom at https://ibn.fm/OLOX.
