{"url_path":"/sec/olox/8-k/2026-02-18/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-02-18","source_url":"https://www.sec.gov/Archives/edgar/data/1023994/0001213900-26-018046-index.html","accession_number":"0001213900-26-018046","cik":"0001023994","ticker":"OLOX","issuer_name":"OLENOX INDUSTRIES INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1023994/0001213900-26-018046-index.html","primary_entity_key":"0001023994","primary_entity_name":"OLENOX INDUSTRIES INC."},"word_count":322,"has_tables":true,"body_markdown":"**Item 1.01 Entry\ninto a Material Definitive Agreement.**\n\n ****\n\nOn February 11,\n2026 (the “Effective Date”), Olenox Industries Inc. (the “Company”) executed a settlement agreement (the “Settlement”)\nwith Michael McLaren (the “Note Holder”), to settle the outstanding balance owed to the Note Holder pursuant to a convertible\npromissory note (the “Note”) between the Note Holder and the Company’s subsidiary Olenox Corp., a Wyoming corporation.\nPer the terms of the Settlement, the Company will issue 626,325 shares of restricted common stock of the Company, par value $0.01 (the\n“Settlement Shares”) to settle the balance due under the Note in full. Under the terms of the Settlement, the Note Holder\nagrees to waive and release any and all claims against the Company relating to the Note. The foregoing description of the Settlement is\nqualified in its entirety by reference to the full text of the Settlement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated\nherein in its entirety by reference.\n\n \n\nOn February 11,\n2026 (the “Effective Date”), Olenox Industries Inc. (the “Company”) executed a settlement agreement (the “Settlement”)\nwith Michael McLaren (the “Shareholder”), to resolve and settle any and all actual or potential claims that the Shareholder\nmay have with regard to the Shareholder’s shares of Company Series A Non-Voting Convertible Preferred Stock (the “Preferred\nShares”). Per the terms of the Settlement, the Company will issue 585,000 shares of restricted common stock of the Company, par\nvalue $0.01 (the “Settlement Shares”) and the Shareholder shall surrender to the Company 39,000 Preferred Shares held by Shareholder.\nUnder the terms of the Settlement, the Note Holder agrees to waive and release any and all claims against the Company relating to the\nPreferred Shares. The foregoing description of the Settlement is qualified in its entirety by reference to the full text of the Settlement,\na copy of which is attached hereto as Exhibit 10.2 and is incorporated herein in its entirety by reference."}