Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Alkemy (K.B. Recycling Industries Ltd.) (AKMY) signs an agreement to purchase oceansix GmbH from RAM.ON finance GmbH
  • Alkemy is an environmental technology company based in Israel that developed a unique plastic recycling process for plastic bags and sheets traditionally not considered economically viable for recycling
  • Alkemy and oceansix will focus on the development, production, and sale of plastic products for a variety of uses that are extracted from plastic films
  • Alkemy agrees to issue 20,295,037 ordinary shares for $0.01 per share to RAM.ON Finance
  • If all required milestones of the agreement are satisfied, RAM.ON Finance is limited to maximum issuance 148,166,312 ordinary shares
  • Alkemy (K.B. Recycling Industries Ltd.) (AKMY) is down 1.66 per cent trading at $0.29 per share as of 1:38 p.m. EST

Alkemy (K.B. Recycling Industries Ltd.) (AKMY) has agreed to purchase oceansix GmbH from RAM.ON Finance GmbH.

Alkemy is an environmental technology company based in Israel that developed a unique plastic recycling process for plastic bags and sheets traditionally not considered economically viable for recycling.

Alkemy and oceansix will focus on the development, production, and sale of plastic products for a variety of uses that are extracted from plastic films.

Alkemy will issue 20,295,037 shares to RAM.ON Finance.

If all required milestones of the agreement are satisfied, RAM.ON finance will issue a maximum of 148,166,312 shares.

The agreement will include a lock-up period of three years governing the sale of the shareholders’ holdings in Alkemy.

Also, a right of first refusal is available to each shareholder regarding off-market sales of 10 per cent of holdings between the end of the lock-up period and the fifth anniversary of the closing.

RAM.ON Finance intends to appoint industry experts to the board.

Alkemy (K.B. Recycling Industries Ltd.) (AKMY) is down 1.66 per cent and is trading at $0.29 per share as of 1:38 p.m. EST.

More From The Market Herald
CubicFarm Systems announces biggest deal to date

" CubicFarm (TSX:CUB) announces pricing of $10 million overnight marketed offering

CubicFarm Systems Corp (CUB) has announced the price and terms of its overnight marketed public offering.

" EasTower Wireless (TSXV:ESTW) to develop its largest 5G Florida site to date

EasTower Wireless (ESTW) has secured a new site build from one of the largest national tower owners in the U.S.

" Biosenta (CSE:ZRO) yields encouraging results for the construction industry

Biosenta (ZRO) has reported recent success with its latest development–environmentally friendly biocidal particles.

" SHARC (CSE:SHRC) shares Q1 2022 financial results

SHARC International Systems (SHRC) announced significant revenue & pipeline growth for the first quarter ended March 31, 2022.