Olenox signs LOI to acquire Wildboy and IPD

Olenox Industries Inc. (NASDAQ:OLOX) announced on August 19, 2026 that it has entered into a non-binding letter of intent with Wildboy Industries, Ltd. and Odin International, Inc. to acquire 100% of the capital stock of Wildboy Holdings, Ltd. and IPD Industries, Inc. The proposed purchase price is approximately US$20 million, payable primarily in Olenox preferred stock, plus common stock and cash. The acquisition is intended to expand Olenox's access to natural gas resources, power-generation opportunities, and infrastructure development capabilities, supporting its strategy of connecting energy resources with power-intensive applications such as data centers. Wildboy's assets include a natural gas plant with processing capacity up to 144 MMcf per day and interests in over 180,000 acres in northern British Columbia, with potential to support approximately 90 MW of gas-fired generation. IPD holds interests in over 5,000 acres near the Waha Hub in West Texas, including electric infrastructure and merchant-power capabilities. The transaction is subject to due diligence, definitive agreements, and regulatory approvals, with a target closing by October 31, 2026. There is no assurance the deal will be completed.