VANCOUVER, British Columbia, Jan. 13, 2014 (GLOBE NEWSWIRE) -- Olie Inc. (OTCQB:OLIE) (Olie) President, Robert Gardner, is pleased to announce that the negotiations with the non-disclosed and non-affiliated cash note holder in Alaska Energy Corporation (Alaska Energy) (PINK SHEETS:ASKE) to purchase and assign a nominal amount of their aged debt, is now concluded. Olie has now purchased part of this matured, secured debt. Olie remains intent upon converting that part into common shares which it will either sell or book as equity on its own balance sheet.
Robert Gardner, President of Olie states, "Since the initial disclosure of Olie's intent on November 26th, 2013 to negotiate and acquire this partial assignment, we have now completed our due diligence and are currently executing the documentation to proceed with the transaction. This is the integral step towards our intention to create a cash dividend for our stockholders, pending FINRA approval, by the second quarter of 2014."
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.
Robert C. Gardner, President Phone: 604 669-9000 E-mail: Website: www.olietech.com