Olenox Expands Energy Platform With Completion of Wildboy and Odin Acquisitions, Advancing Gas-to-Power-to-Compute Strategy

The purchase was funded almost entirely with convertible preferred stock rather than upfront cash.

Rhea-AI Summary

Olenox Industries (OLOX) completed its US$21.7 million acquisition of Wildboy Holdings and IPD Industries, combining gas assets with a power-development platform. Olenox acquired 100% of both companies, paying almost entirely in Series F preferred stock convertible into common shares, subject to conversion limits and lock-ups.

Wildboy's British Columbia assets include processing capacity of up to 144 million cubic feet per day, approximately 184,785 acres and approximately 56.8 billion cubic feet of proved developed gas reserves under independent reserve work dated September 30, 2026. Management estimates gas could support up to 50 MW of initial generation, subject to equipment, infrastructure, approvals and operating conditions. IPD holds a 100 MW self-generator registration near Pecos, Texas. Olenox plans staged development tied to demand and capital, subject to financing, final equipment and gas supply agreements, and approvals.

6 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointUS$21.7 million acquisition completed for 100% of Wildboy Holdings and IPD Industries. 19× market cap
• Minor pointWildboy assets add up to 144 million cubic feet per day of processing capacity and approximately 184,785 acres.
• Minor pointApproximately 56.8 billion cubic feet of proved developed gas reserves identified in September 30, 2026 independent reserve work.
• Minor point. Forward-looking: it has not happened yet and may not happen.Up to 50 MW of initial generation could be supported by available gas, management estimates.
• Minor point100 MW self-generator registration held by acquired IPD platform near Pecos, Texas.
• Minor point. Forward-looking: it has not happened yet and may not happen.Staged generation development planned in line with customer demand and available capital.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.Series F preferred stock funds almost all consideration; conversion into common shares creates potential dilution, subject to limits and lock-ups.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Wildboy generation opportunity depends on equipment, supporting infrastructure, applicable approvals and operating conditions.
• Moderate point. Forward-looking: it has not happened yet and may not happen.IPD development remains subject to financing, final equipment and gas supply agreements, and applicable approvals.

Argus 15 min delay 3 alerts

+2.75% vs previous close $0.72 last price 2.8x rel. volume Open Argus

Details

Market Reaction – OLOX

+2.4% Peak Tracked

$0.69 – $0.77 Day Range

$1.19M Mkt Cap at Last Price

On Oct 20, the day this news came out, the latest delayed price for OLOX is 2.75% above the previous close. Argus tracked a peak move of +2.4% during the session. Our momentum scanner has recorded 3 alerts for this stock so far that day. The latest delayed price is $0.72. Relative volume is elevated at 2.8x the average.

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Key Figures

Acquisition purchase price: US$21.7 million Gas processing capacity: Up to 144 million cubic feet per day Initial power-generation opportunity: Up to 50 MW +1 more

Acquisition purchase price

US$21.7 million

Consideration consisted almost entirely of Olenox Series F preferred stock

Gas processing capacity

Up to 144 million cubic feet per day

Wildboy natural gas processing facility

Initial power-generation opportunity

Up to 50 MW

Management estimate; subject to equipment, infrastructure, approvals and operating conditions

Self-generator registration

100 MW

IPD platform registration with the Public Utility Commission of Texas

Key Terms

preferred stock, proved developed natural gas reserves

2 terms

preferred stock financial

"consideration consisting almost entirely of Olenox Series F preferred stock"

Preferred stock is a type of ownership in a company that typically offers investors higher and more consistent dividend payments than common stock. Unlike regular shares, preferred stock usually doesn’t come with voting rights but provides a priority claim on the company’s assets and profits, making it a more stable and predictable investment option. This makes preferred stock attractive to those seeking steady income with lower risk.

proved developed natural gas reserves technical

"56.8 billion cubic feet of proved developed natural gas reserves"

The portion of a company's proved natural gas reserves that can be recovered from existing wells, existing equipment and established operating methods. These volumes are supported by geological and engineering data and are expected to be produced under current economic, regulatory and operating conditions; they exclude gas that would require drilling new wells, major recompletions, or significant changes in technology or economics. Proved developed reserves are a subset of proved reserves and are reported using the pricing, cost and other assumptions required by the relevant securities or regulatory reporting rules.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CONROE, TX / ACCESS Newswire / October 20, 2026 / Olenox Industries Inc. (NASDAQ:OLOX) ("Olenox" or the "Company") today announced that it has completed the acquisition of 100% of the issued and outstanding capital stock of Wildboy Holdings, Ltd. ("Wildboy Holdings") and IPD Industries, Inc. ("IPD"), bringing together natural gas resources and processing infrastructure in British Columbia with a power-development platform near the Waha Hub in West Texas.

Wildboy Holdings was acquired from Wildboy Industries, Ltd., and IPD was acquired from Odin International, Inc. The acquisitions advance Olenox's strategy to build an integrated gas-to-power-to-compute platform, connecting natural gas resources with electricity generation and higher-value applications, including artificial intelligence, data centers and digital-asset operations such as the Company's CS Digital business.

The acquisition purchase price is US$21.7 million, with consideration consisting almost entirely of Olenox Series F preferred stock. Securities issued to the sellers are convertible into shares of the Company's common stock, subject to certain conversion limitations and lock-up provisions. The structure allows the sellers to participate in Olenox's future growth while preserving the Company's near-term cash position.

"Power is becoming one of the defining constraints on the growth of artificial intelligence and digital infrastructure. With these acquisitions, we are building a platform that starts with the energy itself," said Michael McLaren, Chairman and Chief Executive Officer of Olenox. "Wildboy gives us control of natural gas resources, and IPD gives us a registered foundation for developing power generation in West Texas. Together, they position us to capture more value across the chain -- from gas to electricity to computing. The acquisition economics and limited upfront cash requirement allow us to accelerate the vision we presented to our board in May. This closing moves us from assembling the platform to executing on it."

Located in northeastern British Columbia, the Wildboy assets include a natural gas processing facility with capacity of up to 144 million cubic feet per day and approximately 184,785 acres. According to independent reserve work dated September 30, 2026, the assets contain approximately 56.8 billion cubic feet of proved developed natural gas reserves. Management estimates that available gas could support an initial power-generation opportunity of up to 50 MW, subject to generation equipment, supporting infrastructure, applicable approvals and operating conditions.

The acquired IPD platform near Pecos, Texas, holds a 100 MW self-generator registration with the Public Utility Commission of Texas. Olenox intends to pursue modular development, adding generation capacity in stages aligned with customer demand and available capital, subject to financing, final equipment and gas supply agreements, and applicable approvals.

Together, the acquisitions position Olenox to participate in multiple stages of the energy value chain, from natural gas production and processing to electricity generation and computing applications. By controlling fuel resources and developing generation capacity, the Company aims to capture additional value from its energy assets while expanding potential revenue opportunities across data centers, digital assets and industrial power supply.

About Olenox Industries Inc.

Olenox Industries Inc. (NASDAQ:OLOX) is a vertically integrated U.S. energy company operating across multiple business lines, including oil and gas, energy services and energy technologies, including the proprietary Olenox process. The Company is focused on acquiring, optimizing and scaling energy-related infrastructure and operating assets, with a strategic focus on bringing low-cost natural gas to high-value end uses, including digital infrastructure and next-generation computing.

For additional information, visit www.olenox.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable U.S. federal securities laws. Forward-looking statements include, without limitation, statements regarding the anticipated benefits of the completed acquisitions; the Company's integrated gas-to-power-to-compute strategy; development and integration plans; natural gas production, availability and reserves; processing and potential power-generation capacity; modular generation development; potential applications and revenue opportunities; preservation of cash resources; and future business, operations and financial performance.

These statements are based on current expectations and assumptions and are subject to risks, uncertainties and other factors, many of which are outside the Company's control, that could cause actual results to differ materially. Such factors include risks associated with integrating acquired businesses and assets; the accuracy and recoverability of reserve estimates; the availability of financing, equipment and infrastructure; the execution of definitive gas supply and generation equipment agreements; development costs and delays; the receipt and maintenance of permits, registrations, approvals and third-party consents; the ability to secure customers and commercial agreements; the possibility that estimated natural gas availability or power-generation capacity will not be achieved; volatility in natural gas and electricity prices; dilution associated with equity securities; regulatory developments in the United States and Canada; and other risks and uncertainties described in the Company's filings with the U.S. Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Investor and Media Contacts

Olenox Industries Inc.
Investor Relations
investors@olenox.com

Rona Menashe
Guttman Associates PR
Rona@GuttmanPR.com

SOURCE: Olenox Industries Inc.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Olenox pay for Wildboy Holdings and IPD Industries?

Olenox paid US$21.7 million for 100% of the issued and outstanding capital stock of Wildboy Holdings and IPD Industries. Consideration consisted almost entirely of Series F preferred stock convertible into common shares, subject to conversion limitations and lock-up provisions.

Who sold Wildboy Holdings and IPD Industries to Olenox?

Wildboy Industries sold Wildboy Holdings to Olenox, while Odin International sold IPD Industries. Both acquisitions have been completed.