Key Highlights

  • Olenox Industries obtained 100% of Psylinks Neurotech’s outstanding shares on July 3, 2026.
  • The purchase price totals US $500,000, delivered via 104,166 restricted common shares priced at US $4.80 each.
  • Indemnity obligations trigger only after losses exceed US $50,000, with seller liability capped at 50% of the purchase price.

Olenox Industries (NASDAQ: OLOX) disclosed that it completed a full acquisition of Psylinks Neurotech Corp. On July 3, 2026. The transaction was structured as a stock exchange, delivering a $500,000 consideration in the form of restricted common shares.

Transaction Structure

Under the agreement, Olenox transferred restricted common stock whose par value is $0.001 per share to the sellers. The shares were valued at $4.80 each, resulting in a total issuance of 104,166 shares to satisfy the agreed purchase price.

Executive Integration

The agreement brings two senior scientists from Psylinks onto the Olenox team. Dr. Ford Burles, PhD, will contribute to product development, while Dr. Michael McLaren‑Gradinaru, PhD, will focus on technology initiatives, reinforcing the company’s expertise in neurotechnology.

Protective Covenants

Sellers are bound by non‑competition and non‑solicitation clauses lasting two years from the closing date. These covenants are limited to specific exceptions outlined in the agreement, aiming to protect Olenox’s competitive position post‑acquisition.

Indemnity Framework

The indemnity structure stipulates that the indemnifying party becomes liable only after cumulative losses related to indemnification surpass $50,000. Additionally, the total exposure of the sellers for any breach of representations is limited to 50% of the total purchase price.

Related Party Review

Given a familial link between a seller and Olenox’s chairman, the transaction qualifies as a related‑party deal under SEC standards. The board reviewed and approved the agreement, with Chairman Michael McLaren abstaining from the vote to address potential conflicts of interest.

Regulatory Compliance

The issuance of restricted shares relied on an exemption under the Securities Act and applicable Regulation D provisions. All participating sellers affirmed accredited investor status, and the shares bear standard restrictive legends to limit resale.

Forward‑Looking Statements

The filing includes forward‑looking statements concerning anticipated synergies, integration benefits, and future performance of the combined entity. These statements depend on numerous risk factors, including the ability to merge operations and market demand for advanced AI‑driven neurotechnology solutions.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.