Olenox Industries (NASDAQ: OLOX) announced a nonbinding letter of intent with Wildboy Industries Ltd. and Odin International Inc. regarding the proposed acquisition of 100% of Wildboy Holdings Ltd. and IPD Industries Inc. for an aggregate stated purchase price of approximately $20 million, consisting primarily of Olenox preferred stock along with common stock and cash consideration. The proposed transaction is intended to expand Olenox’s access to natural gas resources, power-generation opportunities and infrastructure-development capabilities supporting power-intensive applications, including data centers and next-generation computing. Subject to due diligence, Wildboy’s assets include a natural gas plant with stated processing capacity of up to 144 MMcf per day, interests associated with more than 180,000 acres in northern British Columbia and existing wells that could provide access to approximately 18 MMcf per day of natural gas, which management estimates could support approximately 90 MW of gas-fired generation. IPD’s portfolio includes interests associated with more than 5,000 acres near the Waha Hub outside Pecos, Texas, as well as natural-gas arrangements and development work involving electric infrastructure, substations, water infrastructure, on-site generation and merchant-power capabilities. The parties are targeting a closing on or before Oct. 31, 2026, subject to due diligence, definitive agreements and required approvals and other customary closing conditions.
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About Olenox Industries Inc.
Olenox Industries Inc. (NASDAQ:OLOX) is a vertically integrated energy company operating across multiple business lines, including oil and gas, energy services, and energy technologies. The Company is focused on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets.
NOTE TO INVESTORS: The latest news and updates relating to OLOX are available in the company’s newsroom at https://ibn.fm/OLOX
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