VANCOUVER, British Columbia, Dec. 11, 2013 (GLOBE NEWSWIRE) -- Olie Inc. (OTCQB:OLIE) President, Robert Gardner, is pleased to announce FINRA's approval of its Convertible Preferred Stock Dividend to its Stockholders. This announcement was disseminated to OTC Markets by FINRA on December 6, 2013.
Robert Gardner states "We are extremely pleased with the FINRA dividend approval. The issuance of our Convertible Preferred Securities is designed to insulate stockholders from the volatility of the open market. The convertibility feature of this stock is set at the par value of the public company to ensure that once these securities mature, the holder of these derivatives can convert back into common stock through an issuance resolution from the company, at a predetermined ratio, as set out in the Articles of Incorporation. That the convertible preferred stock is also anti-dilutive protects future investors from possible future reverse splits based on a real value adjustment."
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.