Hub Cyber Security Ltd. (NASDAQ:HUBC) ("HUB" or the "Company"), today announced that it has entered into an agreement (the "Agreement") to sell 100% of the issued share capital of the QPoint Group ("QPoint") to the Malam Team Group (the "Purchaser") in consideration of approximately US $8.7 million.

This divestiture is a key component of HUB’s proactive plan to strengthen its balance sheet and reduce debt. In line with the Company’s commitment to its stakeholders, the proceeds from the sale are intended to be applied toward the repayment of substantially all of the debt secured by the shares of QPoint.

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