OLENOX INDUSTRIES INC.

Olenox Industries Inc. announced that its wholly-owned subsidiary, SG Echo, filed for Chapter 11 bankruptcy on April 28, 2026, accelerating $4.0 million in debt. The company also underwent three reverse stock splits: 1-for-20 in May 2024, 1-for-64 in September 2025, and 1-for-10 in May 2026, primarily to maintain Nasdaq listing compliance. Olenox completed a merger with New Asia Holdings, Inc. in February 2025 and acquired Giant Containers Inc. in December 2025, while also deconsolidating its former subsidiary SG DevCorp in 2024.

Olenox Industries Inc. entered into an Amended and Restated Membership Interest Purchase Agreement to acquire 100% of CS Digital Ventures, LLC. The aggregate upfront consideration is $30,000,000, comprising $14,000,000 in Series E Preferred Stock and a $16,000,000 unsecured promissory note. Additionally, warrants for 1,500,000 common shares and up to $20,000,000 in earnout shares of Series E Preferred Stock are part of the deal. Concurrently, existing Series D Preferred Stock holders exchanged their shares for Series E Preferred Stock. The conversion of Series E stock and exercise of warrants are subject to a 19.9% cap and require stockholder approval.

Olenox Industries Inc. appointed Erik Blum as its new President, effective June 1, 2026, with an employment agreement including a $200,000 annual salary and a $50,000 restricted stock grant. Blum, who has over 30 years of experience in finance and management, will continue to serve on the Board but resigned from the Audit Committee. Concurrently, the company dismissed Chief Financial Officer Patricia Kaelin on June 5, 2026, and is actively seeking a replacement.

Olenox Industries Inc. reported its first monthly Bitcoin production update for May 2026, following the acquisition of CS Digital Ventures, LLC on May 28, 2026. The company produced approximately 18.6 BTC with an average operational hashrate of 1.30 EH/s. The report details the company's strategy of converting natural gas into compute at the point of generation and outlines seasonal operational adjustments due to high heat in Texas. The acquisition of CS Digital for $30 million, comprising stock and a promissory note, is also recapped, highlighting CS Digital's existing infrastructure and revenue contribution.

Olenox Industries Inc. completed the acquisition of 100% of CS Digital Ventures, LLC, an energy-intensive data center and digital infrastructure company. The transaction involved an upfront consideration of $30 million and potential earnout of up to an additional $20 million. This acquisition establishes a vertically integrated, gas-powered digital infrastructure platform, aiming to convert low-cost natural gas into compute at the point of generation and target power costs below $0.02 per kWh.

Olenox Industries Inc. filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation, effecting a one-for-ten reverse stock split. The split became effective on May 8, 2026, at 12:01 a.m. Eastern Time. Stockholders who would otherwise receive fractional shares will have their shares rounded up to the nearest whole share.

Olenox Industries Inc. announced that its wholly-owned subsidiary, SG Echo LLC, initiated a voluntary Chapter 11 reorganization proceeding on April 28, 2026. This filing is intended to strengthen SG Echo's financial foundation and streamline operations, with an estimated $2 million reduction in liabilities. Olenox Industries and its other subsidiaries are not included in the filing and continue normal operations. However, the Chapter 11 filing triggered an event of default, accelerating approximately $4 million in obligations under a loan agreement.