Olie Inc. Announces Additional $20,000,000 USD in Medium Term Note (MTN)
17 Dezember 2013 - 01:05PM
Olie Inc. (OTCQB:OLIE) (The Company) President, Robert Gardner, is
pleased to announce that its subsidiary, Settlement Management
Series 1, LLC ("Settlement Management"), has just completed an
assignment for $20,000,000 MTN USD, credit linked to a Triple A US
Treasury Strip ("MTN"). This MTN matures in ten years and upon
maturity pays out Settlement Management's clients, the principal,
and the 5% interest premium. Settlement Management has no liens or
debts, and accordingly there should be no depreciation in the
inherent value held in the MTN which therefore would accrue to the
benefit of the Company's consolidated financial statements. This
assignment is in addition to the $5,000,000 five year, 5% US
Treasury Strip already owned by Settlement Management and announced
by the Company on November 19th, 2013. Because of the materiality,
these events will be announced in an 8K once the required
documentation attached as exhibits to the 8K are provided to the
Company.
Robert Gardner states, "The addition of the $20,000,000 MTN in
enhanced value on Settlement Management's balance sheets, positions
the Company with substantially more net stock holders' equity under
management. This will be consolidated on its financial statements.
This is part of the 'Three Step Corporate Plan' announced on
November 4, of utilizing...'its Convertible Preferred Securities as
currency to purchase assets...' It is heartening to reflect that
the Company is delivering on its objective of building value for
its shareholders."
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