Olenox Industries (NASDAQ: OLOX) announced the completion of its acquisition of PsyLinks Neurotech Corp., a move that positions the company to integrate advanced neurotechnology and applied intelligence into its energy and infrastructure operations. The transaction, finalized under a share exchange agreement, saw Olenox acquire all outstanding shares of PsyLinks in exchange for approximately $500,000 in restricted common stock. PsyLinks will now operate as a wholly owned subsidiary of Olenox.
The acquisition brings significant expertise to Olenox through its new leadership. Dr. Michael McLaren-Gradinaru, co-founder of PsyLinks, has been appointed vice president of technology, while Dr. Ford Burles, the other co-founder, will serve as vice president of product development. Their backgrounds in neurotechnology are expected to drive innovation within Olenox's existing business lines.
According to the company, PsyLinks’ neurotechnology and applied intelligence capabilities complement Olenox’s strategy of integrating energy production, industrial infrastructure, and digital technologies. The goal is to improve operational visibility, enhance decision-making processes, and support future technology initiatives. This acquisition aligns with Olenox’s broader focus on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets.
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, ensuring adherence to regulatory standards. This move underscores Olenox’s commitment to expanding its technological footprint while maintaining corporate governance.
For investors and industry observers, the acquisition signals Olenox’s intent to leverage cutting-edge technology to strengthen its vertically integrated energy model. By incorporating neurotechnology and applied intelligence, the company aims to gain a competitive edge in operational efficiency and data-driven decision-making. This could have implications for the broader energy sector, where digital transformation is increasingly critical.
The full press release detailing the acquisition is available at https://ibn.fm/xxUO6. For further updates on Olenox Industries, visit the company’s newsroom at https://ibn.fm/OLOX.
