It is true. The Olive Branch Petition was to keep peace with King George. The colonists were ticking the king off, but then the king got scary and the colonists regretted it hardcore. Since the King didn't accept the petition, the colonists realized that the king won't do this peace thing, and it is time to break away. If the British accepted the colonists petition, peace would have gone on and there would be no Declaration of Independence in 1776.