Oceansix Future Paths Acquires Original Repack Oy

EQS-Media / 15.05.2024 / 10:02 CET/CEST

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)

oceansix@rbmilestone.com


End of Media Release

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Issuer: oceansix future paths Ltd.
Key word(s): Enterprise

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