RCS - Oceansix Future Path - OCEANSIX FUTURE PATHS ACQUIRES ORIGINAL REPACK OY

Oceansix Future PathsAnnouncement

15/05/2024 11:00

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RNS Number : 5387O  Oceansix Future Paths Ltd  15 May 2024

Oceansix Future Paths Acquires Original Repack Oy (news with additional
features)

EQS-Media / 15.05.2024

OCEANSIX FUTURE PATHS ACQUIRES ORIGINAL REPACK OY

Tel Aviv, Israel (May 15, 2024)- oceansix Future Paths Ltd. ("oceansix" or the
"Company"), a leader in advanced recycling and manufacturing technological
solutions with a presence on the TSX Venture Exchange in Toronto (TSXV: CUSIP
001194828, OSIX), in New York (OTCQB: AKMYF), and Frankfurt Stock Exchange
(WKN: A3EFB0, ISIN: IL0011948283, 5FC0), is pleased to announce that today it
has entered into an asset purchase agreement (the "Agreement") pursuant to
which oceansix, through its subsidiary Oceansix S.L.,  has purchased the
business of Original RePack Oy ("RePack"), a pioneer in reusable packaging
systems with a decade of proven track record (the "Acquisition"). The
Acquisition will allow the Company to reduce the reliance on single-use
packaging in e-commerce deliveries, which is growing exponentially and reached
an annual dispatch of 161 billion parcels in 2022.

Transaction Details

The total consideration for the Acquisition, based on the Company's current
share price, is valued by the parties at CDN $2,392,912. Pursuant to the
Agreement, Oceansix acquired the business of RePack in exchange for: (i)
issuing 24,948,840 common shares in the capital of the Company (the "Shares")
to the shareholders or RePack; and (ii) a payment of USD $108,000 (the
equivalent of CDN $147,517, based on current exchange rates) (the "Cash
Payment") on closing. 15,282,176 of the Shares were issued to the shareholders
of RePack on closing of the Acquisition, with the balance to be issued to the
shareholders of RePack in up to four subsequent installments, selected at the
option of RePack.

The Acquisition is an arm's length transaction.  All Shares issued pursuant
to the Agreement will be restricted from trading for four months and one day
after issuance. The Agreement and Acquisition remain subject to the final
approval of the TSX Venture Exchange (the "Exchange").  The price per share
of Shares issued post-closing to shareholders of RePack will be subject to the
Company's share price at their time of issuance and calculated in accordance
with the rules of the Exchange.

Oceansix solidifies its commitment to reshaping the packaging Industry

 "As a pioneering force in sustainable innovation and disruptive engineering,
our recent acquisition of RePack marks a significant milestone in our journey
towards a more sustainable future", Elad Hameiri, CEO of oceansix, states.
"Together with RePack we are entering the new era where packaging is used
again and again."

A Sustainable Satisfaction. Delivered.

RePack, now a central pillar in oceansix's mission, were the first ones who
introduced reusable packaging to e-commerce.  Jonne Hellgren, CEO of RePack,
comments: "Together, we lead the movement against single-use packaging, by
creating a true circular system. "Reduce. Reuse. RePack." becomes more than a
slogan-it is our operational mantra."

A New Alliance for the End of Packaging Trash

This call to action reflects oceansix and RePack's shared vision for cleaner
and more efficient deliveries. Jonne Hellgren emphasizes, "With oceansix, we
will be able to make sustainability simple and engaging, creating a continuous
loop of good. To make this happen it takes more than just a reusable product.
It needs a truly circular, scalable system."

Rebelling Against the Status Quo

The joint mission is unequivocally defined: to make reusable packaging very
simple and convenient for retailers and their customers. "This collaboration
is not a startup experiment, but a mature, credible, and scalable solution to
revolutionize the e-commerce packaging industry" emphasized Elad Hameiri, CEO
of oceansix. RePack's reusable packaging, backed by oceansix's 30 years of
proven business execution and innovative proprietary technology, could finally
become the standard solution to e-commerce packaging and put an end to
single-use packaging trash. Hameiri accentuates: "It is not just a merger,
it's a rebellion against the status quo".

RePack Initiative: Keep Packing, Stop Trashing

Learn more about how oceansix and RePack are crafting the future of e-commerce
by visiting our websites at oceansix.com and RePack.com. Connect with us on
LinkedIn, Instagram to join our journey towards reducing packaging waste and
creating more sustainable and engaging consumer experiences.

About oceansix

oceansix Future Paths Ltd. remains at the forefront of creating sustainable
solutions that not only convert waste into valuable products but also advocate
the principles of a circular economy. Oceansix's unwavering commitment to
sustainability is intensified by its strategic alliance with RePack,
magnifying its impact on global environmental challenges.

About RePack

RePack is more than just another reusable packaging supplier; they're pioneers
in revolutionising the way businesses approach packaging. Rather than simply
selling packaging repeatedly, RePack is dedicated to establishing efficient
reuse systems that eliminate the need for companies to constantly replenish
their packaging supplies.

RePack's mission is clear: to provide innovative reusable packaging solutions
that not only shrink the environmental footprint of deliveries but also
elevate the overall customer experience.

Disclaimer

This press release might include forward-looking statements based on current
expectations and projections about future events. Generally, forward-looking
statements and information may be identified by formulations using terms such
as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks",
"estimates" or "will".  These are subject to risks, uncertainties, and
changes in circumstances that may cause actual results to differ materially
from those expressed or implied by such statements. In this press release,
forward looking statements include statements regarding reducing the reliance
on single-use packaging in e-commerce deliveries; the issuance of the balance
of Shares; and receiving Exchange approval for closing the Acquisition.
oceansix undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events, or
otherwise.

Approval & Accuracy

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined
in the policies of the TSX Venture Exchange) assumes responsibility for the
adequacy or accuracy of this press release.

Best regards

Elad Hameiri, CEO | oceansix future paths Ltd

+34 673 435 571

Jonne Hellgren, CEO | Original RePack OY

 

Investor Relations

RB Milestone Group LLC (RBMG) (mailto:investors@oceansix.com)

oceansix@rbmilestone.com (mailto:oceansix@rbmilestone.com)

 

 

 

End of Media Release

Additional features:

File: Press Release Acquisition RePack May 24 (1)
(https://eqs-cockpit.com/c/fncls.ssp?u=0c039e51633f69d68dfe30b404074e6b)

Issuer: oceansix future paths Ltd.

Key word(s): Enterprise

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