Rumbu Holdings Announces Bank Facility and Release of Year End Financial Statements

April 26, 2024 2:27 PM EDT | Source: Rumbu Holdings Ltd.

Calgary, Alberta--(Newsfile Corp. - April 26, 2024) - Rumbu Holdings Ltd. (TSXV: RMB) ("Rumbu" or the "Company"), announces that, subsequent to year end, it entered into a Letter of Agreement with the Bank of Montreal for a Credit Facility in the aggregate amount of $3,500,000 CDN to provide funding to the Company for acquisitions and an Operating Facility.

The Company also announces the release of its Audited Consolidated Financial Statements for the years ended December 31, 2023 and 2022 which has been filed on SEDAR. Any questions with respect to the Financial Statements or the Bank Facility 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

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.

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