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Oceansix Future Paths Ltd V.OSIX

Alternate Symbol(s):  AKMYF

Oceansix Future Paths Ltd, formerly known as KB Recycling Industries Ltd, is an Israel-based company engaged primarily in environmental technology. The Company operates in multiple areas connected with recycling. The Firm recycles high-contamination film waste from domestic and agricultural sources. The Company follows its own recycling processes which results in producing plastic products that are made from the plastic recycled by the Company. Besides recycling the Firm provides a whole package of other environmental services - from collection and sorting, as well as trading in REpro plastic, scrap plastic, paper, cardboard, metals, and textile. The Company establishes its recycling facilities worldwide.


TSXV:OSIX - Post by User

Post by jetfuel10Xon May 25, 2023 9:59am
123 Views
Post# 35463543

Ran On deal

Ran On deal

Transaction Details

In consideration for oceansix, Alkemy has agreed to issue at closing 20,295,037 Ordinary Shares, par value NIS 0.01 each to RAM.ON finance. The transaction also includes earnout payments involving the issuance of additional Ordinary Shares to RAM.ON finance upon the achievement of certain milestones, including the following:

  • The issuance of 10,000,000 additional Ordinary Shares if Alkemy is able to successfully establish an operational manufacturing site outside of Israel for the production of products utilizing oceansix's or the Company's technology or processes within two years of the closing of the transaction;
  • The issuance of 4,593,773 additional Ordinary Shares if Alkemy is able to successfully establish a second manufacturing site, as described above, within two years of the closing of the transaction;
  • The issuance of 6,000,000 additional Ordinary Shares if Alkemy is able to successfully commercialize and generate revenues from oceansix's technology within five years of the closing of the transaction;
  • The issuance of 20,000,000 additional Ordinary Shares if, within the five year period following the closing, the annual sales of products utilizing oceansix's technology reaches a minimum of US$ 40,000,000 and 0.338915 Ordinary Shares for every US$ 1 in sales in excess of US$ 40,000,000, altogether up to a maximum amount of 74,111,190 Ordinary Shares; and
  • The issuance of 33,166,312 additional Ordinary Shares, if, within the five year period following the closing, the annual sales of products utilizing oceansix's technology exceeds US$ 300,000,000.
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