Olie Inc. Announces Acquisition of MVP Holdings Inc.
January 21 2014 - 7:05AM
Olie Inc. (OTCQB:OLIE) (Olie) President, Robert Gardner, is pleased
to confirm that it has completed its negotiations with MVP Holdings
Inc. (MVP), a private company, to become a wholly owned subsidiary
of Olie Inc. MVP currently holds over $35,000,000 in unaudited net
stockholders' equity, with $34,444,500 deposited by investors in an
intermediary account for the benefit of MVP. The acquisition
contract has been executed whereby MVP and its stockholders will be
acquired by Olie in exchange for anti-dilutive convertible
preferred stock of Olie. The transaction is subject to the
completion of the consolidated financial statements of MVP.
Robert Gardner, President of Olie states, "The acquisition of
MVP is an excellent joint venture because of the net stock holders'
equity that MVP retains. At present MVP has over $35,000,000 in net
stock holders' equity, with the majority being held in restricted
cash. There is a further $625,000 in payments made by MVP for an
algorithmic Forex trading platform that is utilized in its
business."
Safe Harbor Statement:
This release may include "forward looking statements" within the
meaning of Section 27 A of the Securities Act 1933 as amended, and
Section 21 E and /or 27 E of the Securities Exchange Act of 1934,
that are based on assumptions that in the future are inherently
uncertain, may prove not to be accurate, and are subject to
significant risks and uncertainties. These include, but are
not limited to statements as to the future performance of the
company, its ability to raise necessary financing, and other
general economic risks and uncertainties.
CONTACT: Robert C. Gardner, President
Phone: 604 669-9000
E-mail: robertgardner@olieinc.ca
Website: www.olietech.com