Open Information Extraction (IE) systems extract relational tuples from text, without requiring a pre-specified vocabulary, by identifying relation phrases and associated arguments in arbitrary sentences. However, stateof-the-art Open IE systems such as REVERB and WOE share two important weaknesses – (1) they extract only relations that are mediated by verbs, and (2) they ignore context, thus extracting tuples that are not asserted as factual. This paper presents OLLIE, a substantially improved Open IE system that addresses both these limitations. First, OLLIE achieves high yield by extracting relations mediated by nouns, adjectives, and more. Second, a context-analysis step increases precision by including contextual information from the sentence in the extractions. OLLIE obtains 2.7 times the area under precision-yield curve (AUC) compared to REVERB and 1.9 times the AUC of WOE.