Olenox settles $1.73M debt with Cedar Advance by issuing up to 500k shares plus potential true-up

OLENOX INDUSTRIES INC.

• Company issues up to 500,000 common shares (Initial Shares) as settlement for $1,732,500 outstanding balance on three merchant cash advance agreements.
• True-up provision: if proceeds from Initial Shares sale are less than $1,732,500, additional shares issued based on 10-day VWAP.
• Beneficial ownership limitation caps issuance at 4.99% of outstanding common stock at any time.
• Cedar agrees to vote all shares in favor of resolutions at the March 2026 annual meeting per voting agreement.
• Parties release all claims related to the MCAs; settlement subject to confidentiality and non-disparagement terms.