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	Redishred Capital Corp	2.85	0.13	4.78%
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Redishred Capital Corp. Announces the Acquisition of MDK Recycling LLC

The Company also wants to highlight the 2023 pro forma EBITDA margin (See "Cautionary Note Regarding Non-IFRS measures") of MDK, which it estimates to be in the range of thirty to thirty-five percent.

The acquisition includes on-site paper shredding trucks, box trucks, containers, scanning and baling equipment, client relationships, and other assets used in the shredding, paper recycling, and scanning businesses. Redishred views this acquisition as accretive to its cash flows and earnings on a per share basis.

Kasia Pawluk, Senior Vice President of Finance & Acquisitions, noted, "The acquisition of MDK allows us to expand both our shredding and scanning footprint in the United States. It provides Redishred with a platform to support our growth and enter the Detroit, Michigan market. We want to thank Brian Miotke for founding this business and the team that he has built, and we wish him well in the next stage of his life and career."

The purchase price for this acquisition, including earnouts, is estimated to be between $0.5 million and $0.8 million USD, depending on the performance of MDK relative to earn-out targets. The Company financed this acquisition through cash on hand.

About Redishred

Redishred Capital Corp. is the owner of the PROSHRED trademarks and intellectual property in the United States and Internationally. PROSHRED shreds and recycles confidential documents and proprietary materials for thousands of customers in the United States in all industry sectors. PROSHRED is a pioneer in the mobile document destruction and recycling industry and has the ISO 9001:2015certification. It is PROSHRED 's vision to be the system of choice' and provide shredding and recycling services on a global basis. PROSHRED currently services over 41 markets in the United States. Redishred Capital Corp. grants PROSHRED franchise businesses in the United States. Redishred Capital Corp. also operates seventeen corporate shredding businesses directly. The Company's plan is to grow its business by way of both franchising and the acquisition and operation of document destruction businesses that generates stable and recurring cash flow through a scheduled client base, continuous paper recycling and concurrent unscheduled shredding service.

FOR FURTHER INFORMATION PLEASE CONTACT:

Redishred Capital Corp. (TSX.V- KUT)
Jeffrey Hasham, MBA, CA, CPA
Chief Executive Officer
Jeffrey.hasham@redishred.com
www.redishred.com
Phone: (416) 849-3469 Fax: (905) 812-9448

or,

Redishred Capital Corp. (TSX.V - KUT)
Harjit Brar, CA, CPA
Chief Financial Officer
harjit.brar@redishred.com
www.redishred.com
Phone: (437) 328-6639 Fax: (905) 812-9448

Note: The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

This news release contains forward looking statements that reflect the current expectations of management of Redishred and Redishred's future results, performance, achievements, prospects and opportunities. Wherever possible, words such as "may", "will", "estimate", "believe", "expect", "intend" and similar expressions have been used to identify these forward looking statements. These statements reflect current beliefs and are based on information currently available to management of Redishred. Forward looking statements necessarily involve known and unknown risks and uncertainties. A number of factors, including those discussed in Redishred's 2022 management discussion and analysis under "Risk Factors", could cause actual results, performance, achievements, prospects or opportunities to differ materially from the results discussed or implied in the forward looking statements.

These factors should be considered carefully and a reader should not place undue reliance on the forward looking statements. There can be no assurance that the expectations of management of Redishred will prove to be correct.

In particular, certain statements in this document discuss Redishred's anticipated outlook of future events.These statements include,but are not limited to:

1. An increase to Redishred's cash flow and earnings per share, which may be impacted by the level of costs, industry growth levels, the demand for recycled paper products, changes in local and federal regulations, and the economic situation in the United States;
2. The realization of synergies, which may be impacted by the successful integration of operations, procedures, and personnel, and the demand for services; and
3. Pro-forma EBITDA margins, which may be impacted by industry growth levels, the demand for services, changes in local and federal regulations, the economic situation in the United States, and the realization of synergies, which may be impacted by the successful integration of operations, procedures, the economic situation in the United States and personnel.

Readers are cautioned that such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from these statements. Redishred can give no assurance that actual results will be consistent with these forward-looking statements.

Cautionary Note Regarding Non-IFRS Measures

This press release makes reference to certain Non-IFRS measures that do not have a standardized meaning under IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies. The Company includes these measures as a means of measuring financial performance. More specifically, the Company makes reference to the following Non-IFRS measures:

EBITDA is defined as earnings before interest, taxes, depreciation and amortization.

EBITDA margin is defined as the percentage of revenue that has turned into EBITDA.

Pro forma EBITDA is defined as EBITDA, for the referenced company, for the twelve months ended with respect to the fiscal period being referenced, adjusted for the anticipated cost savings and other synergies that the Company anticipates as a result of the acquisition of the referenced company, as if the Company had acquired the referenced company at the beginning of the fiscal period.

Pro forma EBITDA margin is defined as the percentage of revenue that has turned into Pro forma EBITDA.

SOURCE: Redishred Capital Corp.