Oceansix Future Paths Ltd. Updates on Strategic Developments

Oceansix Future Paths Ltd. has canceled its previously announced private placement due to market conditions and internal changes. Simultaneously, the company has initiated a strategic review to explore various options, including finding strategic investors or making structural changes to its operations and finances. This decision comes amid liquidity challenges, with current funds projected to be insufficient for operations beyond the next four months.

Additionally, significant management changes are underway. CEO Elad Hameiri will depart by April 1, 2025, and the board is in the process of selecting a successor. Two board members, Arnon Eshed and Maximo Buch, have resigned, with Yoav Horowitz stepping into the audit committee role.

Oceansix's financial operations are supported by loans and services from RAM.ON GmbH and associated parties, with a total of €2.5 million currently owed. Meanwhile, several stock option grants have been made to employees and consultants, maintaining the company's incentive stock option plan.