Item 1.01 Entry into a Material Definitive Agreement.





Share Exchange Agreement

On February 9, 2023, Creations, Inc. (the "Company") entered into a share exchange agreement (the "Share Exchange Agreement") by and among Aharon Barkai & Co. Ltd. (the "Purchasers") through its controllers Yaniv Aharon and Dan Barkai, and an agreement for the purchase of Shares and Capital Notes (the "Purchase Agreement"), whereby the Company sold all of the capital stock and capital notes of Ocean Yezira Ltd. ("Ocean") in exchange for the payment of an aggregate of ILS 2,061,930 (approximately $577,000 based on today's exchange rate) and the return of 1,254,498 shares of common stock of the Company and 1,254,498 warrants to purchase common stock owned by the Purchasers. The transactions contemplated in the Purchase Agreement and the Share Exchange Agreement are collectively referred to as the "Transaction"). Mr. Aharon is a director of the Company. The Capital Notes in the amount of ILS 2,165,800 which are owed to the Company by Ocean will be repaid by the Purchasers at closing as well. The closing of the transaction is subject to the approval of the Court of Family Affairs to allow the Executor of the Estate of Guy Nissenson to sign upon behalf of the Estate and to approval of the Company's stockholders. If the Transaction is not closed within 60 days of getting the Court's approval the Transaction will be terminated.

The foregoing summaries of the Share Exchange Agreement and the Purchase Agreement are subject to, and qualified in its entirety by, the terms of the Full Agreements, copies of which are attached hereto as Exhibit 10.1 and 10.2.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Pursuant to the terms of the Share Exchange Agreement and the Purchase Agreement, on February 9, 2023, Yaniv Aharon has agreed to resign as a director of the Company upon the closing of the Transaction.

Item 9.01 Financial Statements and Exhibits





(d) Exhibits.


Exhibit
Number    Exhibit
10.1        Share Exchange Agreement dated as of September 7, 2020 by and among
          Creations, Inc., Yetsira Holdings Ltd., Ocean Partners Y.O.D Ltd., and
          Ocean Shareholders
10.2        Agreement for the Purchase of Shares and Capital Notes dated as of
          February 9, 2023
104       Cover Page Interactive Data File (embedded within the Inline XBRL
          document)



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