Oncolix, Inc. agreed to acquire a 65.9% stake in Advanced Environmental Petroleum Producers, Inc. (OTCPK:AEPP) from New Opportunity Business Solutions, Inc. and Brian K. Kistler for $0.32 million on March 6, 2017. Under the terms of the transaction, Oncolix shall acquire 61.5 million shares. Upon closing of the transaction, Brian K. Kistler, shall resign from Advanced Environmental Petroleum Producers. Board of Advanced Environmental Petroleum will appoint Michael T. Redman as a Director to the Board and as Chief Executive Officer, President, Principal Executive Officer and Principal Financial Officer and J. Donald Payne as a Director to the Board and Secretary and Chief Accounting Officer. Michael T. Redman is currently the Chief Executive Officer, President and a Director and J. Donald Payne is the Senior Vice President – Finance and Administration and Secretary of Oncolix. The transaction is expected to be completed on or after March 17, 2017. As on March 21, 2017, Advanced Environmental Petroleum Producers filed first amendment to agreement pursuant to which, transaction is now expected to close on or about April 3, 2017. New Opportunity Business and Brian K. Kistler will utilize $0.11 million of the purchase price to pay all outstanding debt. Oncolix, Inc. paid a fee to an investment banker of $50,000 in connection with the transaction. Gusrae Kaplan Nusbaum PLLC acted as legal advisors to Oncolix, Inc. Oncolix, Inc. completed the acquisition of a 65.9% stake in Advanced Environmental Petroleum Producers, Inc. (OTCPK:AEPP) from New Opportunity Business Solutions, Inc. and Brian K. Kistler on April 8, 2017. In connection with closing of the transaction, Brian K. Kistler resigned as Advanced Environmental Petroleum Producers’s sole Director, Executive Officer and other positions and Michael T. Redman was appointed as Director and Chief Executive Officer and President and J. Donald Payne as Director and Secretary and Chief Accounting Officer of Advanced Environmental Petroleum Producers.