Olie Inc. Announces Intent to Purchase Hi Score Corporation
19 December 2013 - 12:05PM
Olie Inc. (OTCQB:OLIE) (Olie) President, Robert Gardner, is pleased
to announce that it is in an advanced stage of completing a Letter
of Intent to accomplish a Forward Acquisition transaction of Hi
Score Corporation, (OTC:HSCO) (HSCO) as a wholly owned subsidiary
of OLIE. The transaction will be for Convertible Preferred D Stock
of OLIE. Final acquisition documents will be completed once HSCO
has completed its look back audit.
Robert Gardner, President of Olie states, "The acquisition of
another publicly traded company is rarely done in the micro
markets. HSCO also owns an MTN, credit linked to a AAA US Treasury
Strip. In addition HSCO is better managing its debt to equity
ratio, and has paid to complete its audit in order to become fully
reporting. We believe that this transaction significantly will
enhance our shareholder base."
William White, CEO of Hi Score Corporation, further states, "We
have on our balance sheet, a $5,000,000 USD MTN, credit linked to a
AAA US Treasury Strip, and we have moved off a considerable amount
of affiliate and non-affiliate debt. Once we complete our
assignments for third party debt in several of the issuers we are
consulting for, Hi Score, will have cash on its balance sheet to
enhance its Net Stockholders' Equity. Our auditors, Malone Bailey
LLP, have also been paid to complete our audit, so we anticipate
the transaction will shortly be finalized. This is a
remarkable opportunity for our stockholders, who will own OLIE
Preferred Stock after completion."
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
604 669-9000
robertgardner@olieinc.ca
www.olietech.com