AcquisitionsJul 10, 2026, 01:41 PM
Olenox Industries Acquires Psylinks Neurotech for $500,000 in Stock
AI Summary
Olenox Industries Inc. acquired 100% of Psylinks Neurotech Corp. on July 3, 2026, for a purchase price of US$500,000. The consideration was paid in 104,166 restricted shares of Olenox common stock, valued at $4.80 per share. Psylinks, a neurotechnology and applied intelligence company, will become a wholly-owned subsidiary, with its key employees, Dr. Ford Burles and Dr. Michael McLaren-Gradinaru, joining Olenox as VP of Product Development and VP of Technology, respectively. The transaction, which involved a potential related party due to a familial relation with Olenox's Chairman, was approved by the Board with the Chairman abstaining.
Key Highlights
- Acquired 100% of Psylinks Neurotech Corp. on July 3, 2026.
- Purchase price of $500,000 paid in restricted common stock.
- Issued 104,166 shares at $4.80 per share to Psylinks sellers.
- Hired Dr. Ford Burles as VP of Product Development.
- Hired Dr. Michael McLaren-Gradinaru as VP of Technology.
- Sellers subject to 2-year non-compete and non-solicitation covenants.
- Indemnification deductible set at $50,000.
- Transaction involved potential related party due to Chairman's familial link.
- priority
Price Impact
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