TEL AVIV, ISRAEL / ACCESSWIRE / May 12, 2023 / Oceansix Future Paths Ltd. (TSXV:OSIX)(OTCQB:AKMYF)(WKN:A3EFB0)(ISIN:L0011948283) (the "Company" or "oceansix") announces that further to its August 20, 2022 press release, where the Company and three of its major shareholders entered into a letter of undertaking to provide the Company with financial support by way of a credit facility in an amount up to Euro 2,000,000 (the "Facility"), the Company has received Euro 305,000 pursuant to the Facility. Please see the Company's August 30, 2022 press release for further details regarding the Facility.
The Facility is being provided by insiders of the Company and constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(b) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(f).
For more information, please visit oceansix.com, and connect on LinkedIn and Twitter.
For Investor Relations information, please contact: maximilian@oceansix.com | phone +49 89 139 28 890
oceansix future paths Ltd. - Ami Krupik, CEO - phone +972.54.560 7935
Derech Menachem Begin 11 - Ramat Gan - Israel
About oceansix
oceansix is a global source of radical, sustainable solutions and waste-to-product inventions. Powered by a vision of creating meaningful solutions, oceansix constantly invents ways of combining advanced technology with sustainable production and products from plastic waste. oceansix builds successful businesses in global industries while resolving some of Earth's burning challenges. The Company is propelled by its circular model, where products are manufactured from waste, and revenue is funneled to imagine revolutionary ideas for new products with huge market potential and impact.
Disclaimer
This release may contain forward-looking statements and information which may be identified by formulations using terms such as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to a variety of risks and uncertainties. The results actually achieved by oceansix future paths Ltd. may substantially differ from these forward-looking statements. oceansix future paths Ltd. assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those, anticipated.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Oceansix Future Paths Ltd.
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