Olenox Industries converts CEO debt to equity in settlement

Olenox Industries Inc. (NASDAQ: OLOX) announced that CEO Michael McLaren converted a convertible promissory note into common shares on February 11, 2026, settling the balance due under the note in full.

The Conroe, Texas-based company also executed a separate settlement agreement with McLaren to exchange 39,000 shares of Series A Preferred Shares for 585,000 restricted common shares. The agreement resolves claims related to McLaren's Series A Preferred Shares.

"We continue to strengthen our balance sheet by converting debt to equity," said Tricia Kaelin, Olenox Chief Financial Officer. "This transaction conveys the commitment of our CEO to the company and his vision for the future."

Full terms of the settlement agreements are disclosed in a Form 8-K filing published February 18, 2026, with the Securities and Exchange Commission.

Olenox Industries operates as an energy company that acquires and operates businesses providing engineered solutions across industrial, energy, and infrastructure markets through subsidiaries including Giant Containers.

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