CONROE, Texas, Oct. 28, 2025 (GLOBE NEWSWIRE) -- via IBN -- Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe & Green” or the “Company”) today announces that its 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”) will be held on Dec. 29, 2025, at 1 p.m. ET. The Company’s Board of Directors has fixed the close of business on Nov. 21, 2025, as the record date for determining those stockholders who are entitled to vote at the 2025 Annual Meeting or any adjournment or postponement of the 2025 Annual Meeting.
A key item on the agenda for the 2025 Annual Meeting is the approval of New Asia Holdings Corp. shareholders to convert their non-voting convertible preferred shares into shares of common stock of the Company, which represents the second phase of the merger transaction involving Olenox Corp. and Machfu, Inc., and is the final step necessary to fully complete the transaction.
Olenox Corp., a vertically integrated energy company, is a wholly owned subsidiary of Safe & Green specializing in acquiring and revitalizing underdeveloped oil and gas assets, focusing on distressed fields in Texas, Oklahoma, and Kansas. The combination would create a diversified company integrating Olenox’s energy expertise with Machfu’s Industrial Internet of Things (IIoT) technology, expanding Safe & Green’s footprint in sustainable infrastructure and energy solutions.
“This final task in the merger of the two companies will mark a new beginning for the corporation, moving away from modular home construction and into an integrated energy company with a strong container build business focusing on industrial builds like generator sets, AI data centers and crypto currency miners,” said Michael McLaren, CEO of Safe & Green.
Safe & Green is relocating and consolidating its operations in Conroe, Texas, while Olenox implements an AI-powered system to optimize well site operations. Olenox has also begun the initial review of several drilling sites on current leases held within its oil and gas portfolio.
As the energy development arm of SGBX, Olenox intends to implement an aggressive drilling program with plans to target completion of one drilling project during the fourth quarter of 2025, followed by an ambitious drilling agenda outlined for 2026 and beyond.
The Company also shared details of an Open Collaborative Framework (“OCF”) partnership, recently signed with OneQode, a global technology company recognized for its high-performance networking and digital infrastructure capabilities.
About Olenox Global, Inc.
Olenox is an advanced energy company focused on oil and gas production, energy services, and energy technologies. Olenox specializes in acquiring and revitalizing distressed energy assets, leveraging proprietary technologies to enhance production while minimizing environmental impact.
About Machfu, Inc.
Machfu delivers Industrial Internet of Things (IIoT) solutions, providing secure, scalable, and intelligent connectivity for industrial automation, energy, and smart infrastructure applications.
About Safe & Green Holdings Corp.
Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value.
For more information, visit https://www.safeandgreenholdings.com/ and follow us at @SGHcorp on Twitter.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
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