OLENOX INDUSTRIES INC. 8-K

What Happened
Olenox Industries, Inc. announced on July 3, 2026 that it acquired 100% of Psylinks Neurotech Corp. The purchase price was paid in restricted Olenox common stock valued at US$500,000 (104,166 shares at US$4.80 per share). As part of the deal Olenox will hire Psylinks’ key employees, including Dr. Ford Burles, PhD as VP of Product Development and Dr. Michael McLaren-Gradinaru, PhD as VP of Technology.

Key Details

• Acquisition closed July 3, 2026; consideration = US$500,000 in restricted common stock (104,166 shares at $4.80/share; common stock par value $0.001).
• Two Psylinks executives to join Olenox as VPs (Ford Burles and Michael McLaren-Gradinaru).
• Sellers are subject to 2‑year non‑compete/non‑solicit covenants with customary exceptions.
• Indemnity terms: losses must exceed a $50,000 deductible before payment; sellers’ aggregate liability capped at 50% of the purchase price.
• The transaction may be a related‑party transaction due to a familial relation with the Company’s Chairman; the Board approved the deal and Chairman Michael McLaren abstained from the vote.

Why It Matters
This is a stock‑based acquisition aimed at expanding Olenox’s technology and talent by bringing Psylinks’ assets and leadership into the company. For investors, the deal dilutes existing shareholders modestly via issuance of ~104K restricted shares and introduces integration risk; the filing highlights standard indemnities and covenants and notes forward‑looking statements about expected benefits and uncertainties. Review the full Exchange Agreement (filed as an exhibit) for more detail on obligations and limits of liability.