Mr. Jeffrey Hasham reports

REDISHRED CAPITAL CORP. ("REDISHRED", OR THE "COMPANY") ANNOUNCES NORMAL COURSE ISSUER BID FOR ITS SHARES

The TSX Venture Exchange has accepted Redishred Capital Corp.'s notice of intention to make a normal course issuer bid to purchase for cancellation, from time to time, as Redishred considers advisable, its issued and outstanding common shares.

There were 18,304,372 shares issued and outstanding as at May 4, 2023. Of this amount, 9,878,008 shares constitute the public float, calculated in accordance with the rules of the TSX-V. Pursuant to the bid, Redishred intends to purchase for cancellation up to a maximum of 987,800 shares, being equal to 10 per cent of Redishred's public float on May 4, 2023. Notwithstanding the foregoing, pursuant to the rules of the TSX-V, Redishred may not purchase more than 1,226 shares in any one day, such amount being equal to 25 per cent of the average daily trading volume of the shares for the six months ended April 30, 2023, which was 4,905 shares.

Purchases under the bid will be made on the open market through the facilities of the TSX-V and any other Canadian marketplaces. Acumen Capital Partners will be conducting the bid. The price that Redishred will pay for any shares purchased by it will be the prevailing market price of the shares on the TSX-V and other Canadian marketplaces at the time of such purchase. The actual number of shares that may be purchased under the bid for cancellation and the timing of any such purchases will be determined by Redishred.

The bid will commence on May 8, 2023, and will terminate on May 7, 2024, or such earlier time as the bid is completed or terminated at the option of Redishred.

Management of Redishred believes that, from time to time, the market price of the shares may not fully reflect their underlying value and that at such times the purchase of shares would be in the best interest of Redishred. At times when the market price does not fully reflect the value of the shares, such purchases would increase the proportionate interest of, and be advantageous to, all remaining shareholders.

During the previous 12 months, Redishred did not purchased any shares through the facilities of the TSX-V and other Canadian marketplaces.

Financial statements

Redishred's Dec. 31, 2022, financial statements and management's discussion and analysis will be available on SEDAR and the company's website.

About Redishred Capital Corp.

Redishred is the owner of the Proshred, Proscan and secure e-Cycle brands, trademarks and intellectual property in the United States. Redishred digitizes, secures, shreds and recycles confidential documents and proprietary materials for thousands of customers in the United States in all industry sectors. Redishred is a pioneer in the mobile document destruction and recycling industry and has the ISO 9001:2015 certification. It is Redishred's vision to be the system of choice in providing digital retention, secure shredding and recycling services on a global basis. Redishred grants Proshred and Proscan franchise businesses in the United States and by way of a licence arrangement in the Middle East. Redishred also operates 15 corporate businesses directly. The company's plan is to grow its business by way of both franchising and the acquisition and operation of information security businesses that generate stable and recurring cash flow through a scheduled client base, continuous paper recycling and concurrent unscheduled shredding service.

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