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Oceansix Future Paths has acquired Original RePack Oy, a leader in reusable packaging systems, through its subsidiary Oceansix S.L.
The acquisition, valued at CDN $2,392,912, involves issuing 24,948,840 common shares and a cash payment of USD $108,000.
The transaction aims to enhance sustainable e-commerce packaging by reducing reliance on single-use packaging.
The deal is subject to TSX Venture Exchange approval, with shares restricted from trading for four months and one day post-issuance.
This acquisition aligns with oceansix's mission to revolutionize packaging through sustainable and reusable solutions.
Oceansix reported strong financial results for the year ended December 31, 2023, with significant sales growth in key subsidiary Flome, improved bottom line, and a focus on e-commerce. Shareholders show strong support. Detailed financial statements are available online. A webinar discussing the results and future prospects is scheduled for May 8, 2024.