Business
New Asia Holdings Inc (NAHD) Announces Closing of Share Exchange Agreement with Olenox Corp. and Marble Trital Inc.
New Asia Holdings Inc (NAHD) Announces Closing of Share Exchange Agreement with Olenox Corp. and Marble Trital Inc..
About this update from New Asia Holdings, Inc.
[{"type":"text","content":"\n Electra, Texas, July 16, 2024 (GLOBE NEWSWIRE) -- New Asia Holdings Inc (“NAHD” or the Company) (OTCQB: NAHD), announces acquisitions pursuant to a Share Exchange Agreement (the “Exchange Agreement”) between the Company, and Olenox Corp.(“Olenox”), and Marble Trital Inc., as the sole shareholder of Olenox (the “Shareholder”). The Company completed the acquisition from the Shareholder of all of the issued and outstanding shares of common stock, of Olenox in exchange for the issuance by the Company to the Shareholder of approximately 224 million shares of Company common stock (the “Exchange”). Pursuant to the Exchange, Olenox has become a wholly owned subsidiary of the Company.  About New Asia Holdings. Inc. New Asia Holding Inc. (OTCQB: NAHD) provided the financial community with highly advanced, proprietary, neural trading models. The Company's trainable, algorithms emulate aspects of the human brain, providing its algorithms with a self-training ability to formalize unclassified information and thus develop an enhanced ability to make forecasts based on the historical information and other data available at their disposal. Due to the recent transaction with Olenox, New Asia will continue forward with operating business of Olenox Corp. and divest the trading model technology. About Olenox Olenox Corp.is a diversified energy company based in the state of Texas that currently operates three vertically integrated business units – Oil and Gas, Energy Services and Energy Technologies. Oil and Gas. focuses on acquiring and optimizing underdeveloped oil and gas assets in Texas, Kansas and Oklahoma. It employs both internally developed and third party-licensed technologies to increase production, optimize performance and reduce costs. Olenox currently operates 16 leases on approximately 2,000 acers with 125 wells on lease to reactivate. Since acquiring the leases in July 2022, Olenox’s Oil and Gas division has increased production from an average of 7 barrels/day to over 40 barrels per day intermittently. After reviewing well control data in the area, Olenox believes that there is more recoverable oil available on these leases.Energy Services. This business unit supports Olenox’s overall exploration and production efforts with “well services...