VANCOUVER, British Columbia, Jan. 2, 2014 (GLOBE NEWSWIRE) -- Olie Inc. (OTCQB:OLIE) (Olie) President, Robert Gardner, is pleased to confirm that it has completed final negotiations with Hi Score Corporation, (OTC PINK:HSCO) (Hi Score) for Hi Score to become a wholly owned subsidiary of Olie. Hi Score and its stockholders will be acquired by Olie in exchange for anti-dilutive convertible preferred stock of Olie. Final acquisition documents are currently being processed, and will include the purchase price that is subject to an accounting formula. Hi Score will file a corporate action with FINRA, ten days prior to the planned closing, to become a wholly owned subsidiary of Olie.
Robert Gardner, President of Olie states "On December 19th 2013 we announced our general intent, and this has now developed. The proposed acquisition will greatly enhance the 'asset' profile of Olie. Our New Year resolution is to singularly concentrate on rapid and positive development of our assets and cash position."
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.