Vancouver, British Columbia--(Newsfile Corp. - December 19, 2013) - 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
Phone: 604 669-9000
E-mail: robertgardner@olieinc.ca
Website: www.olietech.com
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