Olenox settles debt with CEO via 1.2M shares; appoints Paula Dobriansky to board

OLENOX INDUSTRIES INC.

Settled $338,670 outstanding note with CEO Michael McLaren by issuing 626,325 common shares at $0.5407 (50% of VWAP).
Issued 585,000 restricted common shares to CEO in exchange for surrender of 39,000 Series A preferred shares and release of merger claims.
Appointed Ambassador Paula J. Dobriansky as director; receives standard $40k cash retainer + $50k annual RSU grant.
Total share issuance of ~1.21M shares represents material dilution for existing shareholders.

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