VANCOUVER, British Columbia, Nov. 8, 2013 (GLOBE NEWSWIRE) -- Olie Inc. (OTCQB:OLIE) President, Robert Gardner, is pleased to announce that the company intends to issue anti-dilutive Convertible Preferred Stock to its Affiliates in exchange for Affiliated Debt. The objective is to eliminate as much Insiders' debt from the Balance Sheet as possible. This includes $41,099.46 for corporate advisory and consulting services.
Robert Gardner, President says "This is a start in assisting the company manage its Debt/Equity ratio; this is integral in working towards its objective of becoming a Business Development Corporation."
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.