HUB Cyber Security Strikes Term Sheet To Acquire Ferrox Critical Minerals

Hub Cyber Security Ltd. -36.98%

Hub Cyber Security Ltd.

HUBC

0.48

-36.98%

HUB Cyber Security Ltd. (Nasdaq: HUBC) ("HUB" or the "Company"), today announced that it has entered into a Term Sheet intended to expand its Trust Rails infrastructure into real-world asset validation through the acquisition of 100% of Ferrox Critical Minerals Ltd. ("Ferrox") and its world class Tivani minerals project in South Africa, a fully permitted, NI 43-101 compliant magnetite and ilmenite asset positioned to commence production, processing and sales in FY 2026.

The proposed transaction contemplates the issuance by HUB of $125 million in equity consideration in four stages, based on the prevailing market price of HUB's shares at each issuance.

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