21:45:21 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Oceansix Future Paths Ltd
Symbol OSIX
Shares Issued 156,387,006
Close 2024-04-01 C$ 0.09
Market Cap C$ 14,074,831
Recent Sedar Documents

Oceansix investor RAM.ON acquires option from Tedea

2024-04-01 18:59 ET - News Release

Mr. Rudiger Olschowy of RAM.ON reports

RAM.ON GMBH ANNOUNCES OBTAINING AN OPTION TO ACQUIRE COMMON SHARES OF OCEANSIX FUTURE PATHS LTD., AND INTENTION TO FILE EARLY WARNING REPORT

RAM.ON GmbH (formerly RAM.ON Finance GmbH) has acquired an option to purchase from Tedea Technological Development and Automation Ltd. 6,193,740 ordinary shares of Oceansix Future Paths Ltd., which may be increased by an additional amount of up to 2,531,573 Oceansix shares for an aggregate total of 8,725,313 Oceansix shares, in exchange for assuming certain financing obligations that Tedea has to Oceansix, pursuant to an option agreement entered into between the company and Tedea. Pursuant to the option agreement, the option shares can be purchased from Tedea at a price of 6.5 cents per share for a period of 24 months from the date hereof. Tedea has agreed to place the option shares into escrow with a third party to ensure the option can be duly exercised in accordance with its terms.

As of the date hereof, the company beneficially owns, or exercises control or direction over, 31,534,537 Oceansix shares, or 20.16 per cent of the 156,387,006 issued and outstanding Oceansix shares. If the company were to exercise the entirety of the option (including the additional option shares), the company would beneficially own, or exercise control or direction over, 40,259,850 Oceansix shares, or approximately 25.74 per cent of the issued and outstanding Oceansix shares.

For the purposes of National Instrument 62-103 -- the Early Warning System and Related Take-Over Bid and Insider Reporting Issues, the company is considered a joint actor with Tedea and Sullam Holdings L.R. Ltd., in that they are each considered to be acting jointly and in concert with one another in respect of their security ownership of Oceansix.

As of the date hereof, the joint actors beneficially own, or exercise control or direction over, 91,386,037 Oceansix shares (representing approximately 58.43 per cent of the issued and outstanding Oceansix shares on a non-diluted basis), and 226,197,300 Oceansix shares (representing 72.75 per cent of the issued and outstanding Oceansix shares on a fully diluted basis) as a result of the joint actors as a group holding warrants to acquire 10,106,300 Oceansix shares, as well as possible earnout obligations from Oceansix to the company based on certain milestones. There are no changes in the aggregate securityholdings in Oceansix of the joint actors as a result of the entering into of the option or any exercise thereof.

The company may, depending on various factors, including, without limitation, market and other conditions, increase or decrease its beneficial ownership, control or direction over its Oceansix shares or other securities of Oceansix, through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise.

This news release is being issued in accordance with National Instrument 62-103 -- the Early Warning System and Related Take-Over Bid and Insider Reporting Issues. The company will file an early warning report in connection with the above noted matters on SEDAR+ under Oceansix's issuer profile. To obtain a copy of the early warning report once filed, please contact Elad Hameiri, chief executive officer of the issuer, at 34-673-435-571 or elad@Oceansix.com or refer to SEDAR+ under the issuer profile of Oceansix.

The acquisition by the company of the option did not (and any option shares which may be acquired from the exercise of the option will not) take place through the facilities of any stock exchange or other marketplace.

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