Renah Persofsky ICD.D Joins Alkemy Board of Directors

TORONTO and BEIT SHEAN, Israel, May 5, 2021 /CNW/ - K.B. Recycling Industries Ltd., conducting business as Alkemy (www.alkemy.solutions) ("Alkemy" or, the "Company"), a leading environmental technology company, announces it has nominated Ms. Renah Persofsky to its Board of Directors as an external director.

Ms. Persofsky was awarded an ICD.D designation from the Canadian Institute of Corporate Directors that represents a lifelong commitment to excellence in the boardroom. Renah had recently served as an executive consultant at a Canadian chartered bank for 9 years and holds key board positions in various prominent publicly traded and private companies including Green Gruff Inc, Hydrofarm LLC, BookJane Inc and Tilray Inc.

Shmulik Porre, Alkemy's CEO stated: "We take our responsibilities as a public company and our duties to investors very seriously. We believe that transparency and open communications with the investment community will be a key to our success. Ms. Persofsky is the perfect person to guide us towards the adoption of best practices in corporate governance as a public company. Raising environmental awareness is a global cause, and her cross-border perspective compliments that. We are honored to have her on board."

Ms. Persofsky commented on her appointment saying: "I have spent my career helping companies achieve their purpose, be it those that I have started, those I have had the privilege of leading, or representing on their board of directors. Alkemy is a promising company with a socially impactful recycling solution for one of the world's most serious pollution problems. I am proud to be part of the team to help execute on this vision."

In accordance with Israeli law, Ms. Persofsky's appointment as an external director is subject to approval at the next annual shareholders meeting of the Company.

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 traditionally not considered economically viable for recycling, which has 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 and available on www.sedar.com 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]