Mr. George Lunick reports

PEARL RIVER ANNOUNCES AMENDED STOCK OPTION PLAN

Pearl River Holdings Ltd. has adopted an amended stock option plan, subject to final approval of the TSX Venture Exchange. The amended option plan was approved by the Pearl River's shareholders at its annual general and special meeting of shareholders held on Oct. 13, 2023. The amended plan is substantially the same as the previous stock option plan; however, the amended plan allows for the exercise of stock options on a cashless and net exercise basis and contains other minor amendments to ensure compliance with TSX-V Policy 4.4 -- Security Based Compensation. The aggregate number of common shares that may be reserved for issuance under the amended plan must not exceed 5,461,985 common shares (20 per cent of the corporation's issued and outstanding shares) and there are currently 2.23 million stock options outstanding.

For more information regarding the amended option plan, please see Pearl River's 2023 management information circular dated Aug. 29, 2023, and filed under Pearl River's profile on SEDAR+.

About Pearl River Holdings Ltd.

Through its subsidiaries, Pearl River's principal business is the manufacturing and distribution of plastic products in China, Australia and the United States.