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VANCOUVER, British Columbia, Nov. 13, 2013 (GLOBE NEWSWIRE) -- Olie Inc. (OTCQB:OLIE) President, Robert Gardner, is pleased to announce that Olie Inc. will file a Corporate Action Plan with FINRA for approval to issue a restricted stock dividend to its shareholders in street name. The shareholders under this plan would be delivered physical certificates of Convertible Preferred Stock to their address of record and which may bear a restrictive legend with a holding period. Full details, including record date and payment date, will only be available after consideration and an approval, by FINRA.
Robert Gardner, President states "Issuing restricted convertible preferred securities to those who own stock in the open markets makes sense as a form of protection, in the event that the public market may have impacted negatively to those shareholders. The rights and privileges of the convertible preferred securities have already been determined as part of this overall strategy, and noted in the company's amended Articles of Incorporation."
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