TORONTO and BEIT SHEAN, Israel, April 21,
2022 /CNW/ - K.B. Recycling Industries Ltd.,
conducting business as Alkemy ("Alkemy" or, the
"Company") (TSXV: AKMY) (TSXV: AKMY.WT), a leading
environmental technology company based in Israel, today announced the release of its
consolidated financial statements for the year ended December 31, 2021 and the related management's
discussion and analysis ("MD&A"), which are available on
the Company's website at www.alkemy.solutions and on SEDAR at
www.sedar.com.
Mr. Maximo Buch Appointed to the Board of
Directors
The Company is pleased to announce that its Board of Directors
("Board") resolved to appoint Mr. Maximo Buch to the Board, subject to the
approval and confirmation of the TSX Venture Exchange.
Mr. Buch, former Minister of Economy, Industry, Tourism and
Employment for the Regional Government of Valencia (Spain), is a highly experienced
professional with a superior track record of delivering results.
Mr. Buch has 30 years of business experience, and is well versed in
the European business landscape, both as a manager and consultant.
Previously, Mr. Buch served as a delegate for the Valencian
community of the German Chamber of Commerce. He has also served,
and continues to serve, on a number of corporate boards. It is
expected Mr. Buch's vast expertise will contribute greatly to the
Company's long-term objective of expanding its footprint in the
European market.
Mr. Yoav Horowitz, Chairman of
the Board stated, "we are delighted to welcome Maximo Buch to Alkemy's Board. His extensive and
impressive experience will serve as an extraordinary resource for
Alkemy's future growth plans."
The Company also announces that its services agreement with
A-Labs Finance and Advisory Ltd. dated March
29, 2020 as amended effective February 11, 2021, ended effective March 30, 2022.
About K.B. Recycling Industries Ltd.
K.B. Recycling Industries Ltd. is an environmental technology
company based in Israel, and
carries on business under the name "Alkemy". Alkemy has developed a
unique plastic recycling process to recycle 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 and
finances in general.
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 forward-looking
information. The opinions, estimates or assumptions referred to
above and the risk factors described in the "Risk Factors" section
of the MD&A of the Company dated April
13, 2022 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 or that the Company
presently believes is not material 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, which speaks only as of
the date made. Forward-looking information contained in this press
release represents the Company's expectations as of the date of
this press release (or as of the date they are otherwise stated to
be made), and are subject to change after such date. 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 Corporate Finance Policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE K.B. Recycling Industries Ltd.
