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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned from regulatory filings that three IronFX affiliated executives, as well as two independent directors, have joined the Board of Directors of publicly traded Nukkleus Inc (OTCMKTS:NUKK), the public company controlled by former Tradition North America Chairman Emil Assentato.
As was reported exclusively by LeapRate back in June, Nukkleus is in process of effecting a merger with retail forex broker IronFX and FXDD, as well as the Forexware technology platform division of FXDD.
As of August 1, Nukkleus’ Board of Directors was increased from one member (Mr. Assentato) to six. Joining Mr. Assentato on the board, also effective August 1, are three IronFX affiliated people – Markos Kashiouris, Efstathios Christophi and Petros Economides – plus two independent directors, Craig Marshak and Jack Lahav.
Markos Kashiouris is a co-founder of IronFX and has been serving as its CEO since inception. Mr. Christophi has served as the Chief Financial Officer of IronFX since 2012. Mr. Economides is a co-founder and Non-Executive Director of IronFX, but on a full-time basis runs his own accounting and audit services firm in Cyprus called P.G. Economides & Co. Ltd.
Rounding out the Nukkleus board are two investors backing the three-way merger, Craig Marshak and Jack Lahav. Mr. Marshak was a founding partner of VC firm Israel Venture Partners and a Managing Director at Cross Point Capital Advisors. Mr. Lahav is a private investor and entrepreneur, specializing in launching and growing sophisticated technological businesses.
As per our earlier article breaking news of the transaction, the merger between IronFX and Nukkleus – in which IronFX will effectively be doing a ‘reverse takeover’ of the publicly traded Nukkleus – seems to be a done deal, having the controlling shareholders of both companies aboard. We would note that the existing agreement between the Nukkleus (Assentato) and IronFX (Kashiouris and Economides) shareholders requires Nukkleus ‘to enter into an option to acquire additional Forexware and FXDD operating units‘.
We will continue to follow the situation, and bring our readers continued exclusive coverage as the story develops.