On June 9, 2022 (the “Closing Date”), Globis Acquisition Corp., (“Globis”), consummated the previously announced business combination pursuant to a securities purchase agreement, dated December 19, 2021 (as amended, modified or waived from time to time, the “Business Combination Agreement”) which provides for the Business Combination between Globis and Forafric Agro Holdings Limited, a Gibraltar private company limited by shares (“FAHL”). In accordance with the Business Combination Agreement, the consummation of the following series of separate transactions took place (collectively, the “Business Combination”): (i) Globis formed a new holding company, Globis NV Merger Corp., a Nevada corporation (“Globis Nevada”), which changed its jurisdiction of incorporation by transferring by way of a redomiciliation and domesticating as a Gibraltar private limited company known as “Forafric Global Limited” (the “Redomiciliation”) and, following the Redomiciliation, altered its authorized and issued share capital and thereafter re-registering as a Gibraltar public company limited by shares and changed its name to “Forafric Global PLC” (referred to herein as “New Forafric”). As previously disclosed, at the Special Meeting, on June 7, 2022, Saad Bendidi, Julien Benitah, Franco Cassar, James Lasry, Paul Packer, Ira Greenstein, and Rachel Bitan were elected to serve as directors of the Company for a term expiring at New Forafric's 2025 annual general meeting or the earlier termination of his or her term of office.

Claude Benitah and Michael A. Ferguson resigned as directors of Globis effective on June 9, 2022. The board of directors has determined that Franco Cassar, Ira Greenstein, and Rachel Bitan qualify as independent directors. The standing committees of the board of directors consist of an audit committee (the “Audit Committee”), a compensation committee (the “Compensation Committee”) and a nominating and corporate governance committee (the “Nominating Committee”).

Each of the committees reports to the board of directors. Effective as of June 9, 2022, the board of directors appointed Franco Cassar, Ira Greenstein and Rachel Bitan to serve on the Audit Committee, with Franco Cassar serving as chair of the Audit Committee. The board of directors appointed Franco Cassar, Ira Greenstein and Rachal Bitan to serve on the Compensation Committee, with Rachel Bitan serving as chair of the Compensation Committee.

The board of directors appointed Franco Cassar, Ira Greenstein and Rachel Bitan to serve on the Nominating Committee, with Ira Greenstein serving as chair of the Nominating Committee. In connection with the Business Combination, the board of directors appointed Mustapha Ghazali to serve as Chief Technology Officer, Saad Bendidi to serve as Chairman, and Oury Marciano to serve as Vice President Business Development, respectively, effective as of June 9, 2022.