Rumbu Holdings Announces Change of Financial Year End

Calgary, Alberta--(Newsfile Corp. - February 23, 2024) - Rumbu Holdings Ltd. (TSXV: RMB) ("Rumbu" or the "Company"), announces that it is changing its fiscal year end from June 30 in each year to December 31 in each year. With respect to this, the Company has filed a Notice of Change in Year-End pursuant to Part 4.8(3) of National Instrument 51-102. Due to this change, the Company will not be filing a quarterly financial report for the second quarter ending December 31, 2023. This quarter will be included in the Audited Consolidated Financial Statements of the Company for the year ended December 31, 2023, which will be reported before April 29, 2024. Any questions with respect to this matter may be directed to the Chairman of Rumbu as noted below.

About Rumbu

Rumbu is a publicly traded holding company focused on acquiring, partnering, managing and operating funeral homes, crematoriums and aquamation facilities in Western Canada. Rumbu will collaborate with existing funeral homes to assist in the transition of aging ownership to new business practices in order to ensure quality funeral services in rural and mid-market communities. Rumbu will enter into partnerships with local funeral directors and embalmers who don't have the financial backing to purchase the funeral home where they are employed from the existing owners. Rumbu also has the capability to acquire locations with limited staffing and to integrate experienced funeral professionals into the location that the Company acquires. Once in the community, diligent local funeral directors and embalmers will then partner with Rumbu and become the managing partners within their communities. Rumbu understands the difficulties of succession planning as other corporate funeral home companies focus on larger markets and lack the interest in the smaller and mid-market communities. The Company believes in providing continued and compassionate funeral services for all families in need.

For further information concerning this press release, please contact:

Ross O. Drysdale, Chairman
Rumbu Holdings Ltd.
Telephone: (403) 585-3737
Email: ross@drysdalelaw.com

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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199042