Oceansix Future Paths Acquires Original RePack Oy

Oceansix Future Paths Ltd., a pioneering company in recycling and manufacturing technology active in major stock exchanges, has announced the acquisition of Original RePack Oy, a leader in reusable packaging systems. This strategic move aims to tackle the escalating issue of single-use packaging in e-commerce, which reported an annual dispatch of 161 billion parcels in 2022.

The transaction involved Oceansix issuing 24,948,840 common shares and a cash payment of USD $108,000 paid on closing. A portion of the shares was provided immediately, with the remainder scheduled in up to four additional installments. According to the agreement, all shares will be restricted from trading for four months post-issuance and the acquisition is still pending final approval from the TSX Venture Exchange.

Elad Hameiri, CEO of Oceansix, expressed that this acquisition represents a significant milestone towards sustainable solutions in the packaging sector. Jonne Hellgren, CEO of RePack, echoed this sentiment, emphasizing their joint mission to create a circular economy and eliminate packaging waste.