Calgary, Alberta--(Newsfile Corp. - August 30, 2024) - Rumbu Holdings Ltd. (TSXV: RMB) ("Rumbu" or the "Company"), is pleased to announce that its Board of Directors approved and authorized the grant and issuance of a total of 600,000 stock options (each an "Option" and collectively, the "Options") effective as of today's date. 370,000 Options were issued to the members of the Board of Directors of the Company, which include 250,000 Options for the Chief Executive Officer and a Vice President, 140,000 Options were issued to three (3) Officers and Managers of the Company, 30,000 Options were issued to Senior Managers of subsidiary companies and 60,000 Options were issued to three consultants and advisors of the Company. Each Option entitles the holder to purchase one (1) Common Share of the Company (each a "Share" and collectively, the "Shares") at an exercise price of $0.20 per Share. All of the Options vest on the date of grant and have a term of ten (10) years from that date. The grant of the Options is subject to the final approval of the TSX Venture Exchange.

The Company also announces that it has released the Financial Statements and Management Discussion and Analysis for the Quarter ended June 30, 2024, which can be found on SEDAR.

About Rumbu

Rumbu is a publicly traded Funeral Service, Memorial and Death Care Company trading on the TSX Venture Exchange under the trading symbol RMB. The Company operates in the funeral home business in Western Canada and provides funeral and cremation related services to the public in its market area. Rumbu will provide a vehicle to expand its funeral home business in Western Canada through the acquisition of additional funeral homes and partnering with owners of funeral homes.

Neither the 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.

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Cautionary and Forward-Looking Statements

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward- looking statements. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable laws.

This Press Release is not for distribution in the United States.