VANCOUVER, British Columbia, Nov. 19, 2013 (GLOBE NEWSWIRE) -- Olie Inc. (OTCQB:OLIE) is pleased to announce that it has completed the acquisition of Settlement Management Series 1, LLC ("Settlement Management"), a Delaware company that owns a $5,000,000 five year, 5% US Treasury Strip. This US Treasury Strip matures in five years and upon maturity pays out Settlement Management the principal and the 5% interest premium. Settlement Management has no liens or debts, and accordingly should not depreciate the inherent value held in the US Treasury Strip which therefore would accrue to the benefit of the Olie balance sheet.
Robert Gardner, Olie President, states, "This is an example of a significant acquisition that now positions Olie with instant net stock holders' equity which it can consolidate on its financial statements through Settlement Management. This is in keeping with the Three Step Corporate Plan announced on November 4th where Olie declared that the Company intended to "...use its Convertible Preferred Securities as currency to purchase assets...". The Company has done exactly this and the objective of building value for its shareholders is accordingly now in actuality being accomplished."
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: email@example.comSource:Olie, Inc.