Redishred Capital Corp. Provides Additional Update on The Previously Announced Acquisition of American Security Shredding Corp.

MISSISSAUGA, ON / ACCESSWIRE / December 3, 2021 / Redishred Capital Corp. ("Redishred" or "Company") (TSXV:KUT) previously announced this morning the completion of the acquisition of American Security Shredding Corp. ("American Shredding") effective December 1, 2021. As previously announced, American Shredding offers paper and hard drive shredding, product destruction, and electronic waste recycling services. American Shredding serves primarily the New York and New Jersey markets, and earned approximately $4.1M USD in revenue during fiscal 2020 and has a current run rate of $4.6M USD in revenue for 2021.

The Company also wants to highlight the pro forma EBITDA margin (See "Cautionary Note Regarding Non-IFRS measures") of American Shredding for 2021 which is estimated to be in the range of thirty-two to thirty-five percent. Consolidated EBITDA margin of Redishred for the three and nine months ended September 30, 2021 was twenty-nine percent, as previously announced by the Company.

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 documentdestruction and recyclingindustry and has the ISO 9001:2015 certification. It is PROSHRED®'s visionto be the ‘system of choice' and provide shreddingand recycling services on a global basis. PROSHRED^® currently services over 40 marketsin the United States. Redishred Capital Corp. grants PROSHRED® franchise businesses in the United States and by way of license arrangement in the Middle East. Redishred Capital Corp. also operates fourteen corporate shredding businesses directly. The Company'splan is to grow its business by way of both franchising and the acquisition and operation of document destruction businesses that generate stableand recurring cash flow througha 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 [e-mail]

Phone: [phone]Fax: [phone]

or,

Redishred CapitalCorp. (TSX.V - KUT) Kasia Pawluk, CA, CPA

Chief Financial Officer [e-mail]