Cyber Security

HUB Security Ltd. announces Board and Management Changes

HUB Cyber Security (Israel) Limited (TASE: HUB)a Tel-Aviv based developer of Confidential Computing cybersecurity solutions and services (“HUB” or the “Company“) announces that following previous public disclosures by the company regarding the conclusion of a merger agreement with the Nasdaq-listed Mount Rainier Acquisition Corp. SPAC (NASDAQ: RNER), and the submission of registration documents to the SEC, the Company will perform certain executive personnel changes to better prepare the corporate structure, governance, and professional skillset for its expected listing on NASDAQ.

Mr. Uzi Moskowitz was nominated for the role of Company’s Chairman to replace Mr.  Sigmund Bluvband who will be going into retirement. Major General (retired) Moskowitz is the former head of the IDF’s Cyber Communications and Defence Division. Mr. Moskowitz has public-companies experience and serves as a director in some of the largest Israeli public enterprises. He holds a B.A. in Aeronautical Engineering and a M.Sc. in business administration and Strategy.

Additional changes in support of the company’s expected NASDAQ listing include the replacements of Ms. Monica Shtainkort, deputy CFO, and Mr. Dotan Moshe, Deputy to the to the CEO, with newly appointed CFO and COO executives that will bring NASDAQ experience and SEC related expertise to the Company. All new appointments will be announced in due course and retiring officers will continue to support the company in the upcoming transition to ensure a successful merger and listing.

Forward-Looking Statement

It should be clarified that the aforementioned information regarding the execution of merger transactions with the SPAC, is deemed as forward-looking information, as per the definition of the Israeli Securities Law, 5728-1968. The merger transaction is conditional upon the terms and  conditions set forth in the publicised Note 29 to the Financial Statements for 2021 (reference: 2022-01-034230), the merger agreements, approvals of third parties, the conditions of the US and NASDAQ capital markets, and other risk factors in connection with the Company’s operations as set forth in Section 33 of the Company’s Periodic Report for 2021 (reference: 2022-01-034230) included in this report by way of reference.

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