Leon Koffler Joins Alkemy Board of Directors

TORONTO and BEIT SHEAN, Israel, May 13, 2021 /CNW/ - K.B. Recycling Industries Ltd., conducting business as Alkemy (www.alkemy.solutions) ("Alkemy" or, the "Company"), (TSXV: AKMY) (TSXV: AKMY.WT) a leading environmental technology company, announces it has appointed  Mr. Leon Koffler as an external director.

Mr. Koffler is one of the most prominent global businessmen and industrialists in Israel. Born in Canada, Mr Koffler is the owner and Chairman of Super-pharm Ltd, Israel's leading drugstore chain with over 230 stores throughout Israel and many more worldwide. He is a member of the Advisory Board of Peggy Guggenheim Museum in Venice and Chairman of both the Juvenile Diabetes Foundation and the Therapeutic Center for Rehabilitation in Israel.

Shmulik Porre, Alkemy's CEO stated: "As we aim to enter global partnerships for the deployment of Alkemy recycling plants, we are building a strong board of best-of-class directors to help guide us through our growth stage and the entailed logistics. We welcome Mr. Koffler to our Board."

Mr. Koffler commented on his appointment saying: "Alkemy is unique in its achievement to fuse environmental responsibility goals with corporate profitability potential. I am honoured to join such a distinguished group that may be what our future needs for a healthier and cleaner world."

In accordance with Israeli law, Mr. Koffler's appointment as an external director is subject to the approval by the Company's shareholders at its next annual meeting.

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, and as such, have become one of the largest plastic pollutants in the world. 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE K.B. Recycling Industries Ltd.

Shmuel Porre, Chief Executive Officer, K.B. Recycling Industries Ltd., Tel: [phone], Email: [email protected]; Noah Hershcoviz, Managing Partner, A-Labs Finance & Advisory Ltd., Tel: [phone] (IL) | [phone] (CA), Email: [email protected]