Alkemy Enters into an Agreement with Oceansix to Propel European Expansion

TORONTO and BEIT SHEAN, Israel, Aug. 31, 2021 /CNW/ - K.B. Recycling Industries Ltd., conducting business as Alkemy ("Alkemy" or, the "Company") (TSXV: AKMY) (TSXV: AKMY.WT), an innovative plastics recycling company, today announced a consulting agreement with RAM.ON consult GmbH (conducting business as Oceansix) – a spin-off company of the German-based Cabka Group, majority owned by Mr. Gat Ramon one of Europe's leading plastics recycling experts. Through this agreement, Oceansix will assist Alkemy to enter into and expand in the European market.

Alkemy developed an innovative one-step plastic bag recycling process, that is eco-friendly and profitable. As part of the agreement Oceansix will assist Alkemy in introducing Alkemy to potential European customers, provide market analyses, potential location for the future production sites, and advise on research and development and future products and recycling processes.

Oceansix is wholly owned by Mr. Gat Ramon. Mr. Ramon founded Cabka Group in 1993, leading it to become one of the prominent recycling corporations in Europe and globally, focusing on technologies for processing of post-consumer plastics and development of product solutions from recovered materials.

According to Shmulik Porre, Alkemy's CEO, "Our goal is to continue our growth trajectory. As we plan to expand into key European markets, we are thrilled that Oceansix, owned by one of the most sought-after global experts in plastics recycling technology has chosen assist us on our journey. We expect to keep initiating new innovative ideas and provide the European market with innovating solutions to plastic bag waste."

About Alkemy (K.B. Recycling Industries Ltd.)
Alkemy is an environmental technology company based in Israel that has developed a unique plastic recycling process for plastic bags and sheets traditionally not considered economically viable for recycling. Alkemy employs a dynamic one-step process that does not require separate recycling and production plants. Alkemy's process includes both recycling and finished product manufacturing in a single process called "waste-to-product", allowing Alkemy to reduce the cost of the recycled plastic as raw materials, and increase the profit margin per metric ton.

Forward-Looking Information
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information may relate to the Company's future financial outlook and anticipated events or results and may include information regarding the Company's financial position, business strategy, growth strategies, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding the Company's expectations of future results, performance, achievements, prospects or opportunities or the markets in which the Company operates is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "budgets", "scheduled", "estimates", "outlook", "forecasts", "projects", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" occur. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances.

Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, risks and uncertainties associated with market conditions and the satisfaction of all applicable regulatory requirements, as well as risks and uncertainties associated with the Company's business.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in such forward-looking information. The opinions, estimates or assumptions referred to above and the risk factors described in the "Risk Factors" section of the Management's Discussion and Analysis of the Company dated April 30, 2021 should be considered carefully.

Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

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SOURCE K.B. Recycling Industries Ltd.

Shmuel Porre, Chief Executive Officer, K.B. Recycling Industries Ltd., Tel: [phone], Email: [email protected]