Rumbu Holdings announces grant of stock options

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 has approved and authorized the grant and issuance of a total of 600,000 stock options (each, an “Option” and collectively, the “Options”) effective today. 370,000 Options were issued to members of the Company’s board of directors, including 250,000 Options to 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 subsidiaries and 60,000 Options were issued to three advisors and consultants 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 Options will vest on the date of grant and will have a term of ten (10) years from the date of grant. The grant of the options is subject to final approval of the TSX Venture Exchange.

The Company also announces that it has filed its financial statements and management’s discussion and analysis for the quarter ended June 30, 2024, which can be found on SEDAR.