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. 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 is a strategic move for Olenox, as PsyLinks’ neurotechnology and applied intelligence capabilities are expected to complement the company’s broader strategy of integrating energy production, industrial infrastructure, and digital technologies. Olenox aims to improve operational visibility, decision-making, and future technology initiatives through this integration. The company noted that the transaction 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 significant step in diversifying its technological portfolio beyond traditional energy operations.
The full press release can be accessed at https://ibn.fm/xxUO6. For more information on Olenox and its latest news, visit the company’s newsroom at https://ibn.fm/OLOX.
