Icarus shares to be reinstated on TSX-V

Mr. Eric Lapointe reports ICARUS CAPITAL ANNOUNCES REINSTATEMENT TO TRADING AND EXTENSION OF LETTER OF INTENT TO ACQUIRE YUK YUK'S Trading in Icarus Capital Corp.'s common shares on the TSX Venture Exchange will be reinstated shortly. The company also has extended its previously disclosed non-binding letter of intent, originally dated Oct. 29, 2024 (see press release dated Oct. 30, 2024), with respect to the proposed acquisition of Yuk Yuk's Inc. and Funny Business Production Inc. The LOI, which outlines Icarus's intention to acquire 100 per cent of the shares of Yuk Yuk's and Funny Business Production, will remain in effect through to Dec. 28, 2025. This extension provides additional time for the parties to complete due diligence, negotiate terms, and secure the necessary regulatory and corporate approvals. The extension reflects the commitment of both Icarus and the vendors to pursue this transaction in good faith, while ensuring that the final agreement is structured to support long-term growth and success for Yuk Yuk's, an iconic Canadian comedy brand. Working capital update As disclosed in the company's management's discussion and analysis for the period ended June 30, 2025, the company reported a working capital deficiency. During June, 2025, the company completed two private placements, raising $201,000 to improve liquidity. Management believes this provides sufficient working capital for current obligations and is actively pursuing additional financing opportunities and strategic initiatives to further strengthen the balance sheet. In parallel, the company continues to expand its comedy programming across Western Canada, supporting revenue growth and long-term stability. About Icarus Capital Corp. Icarus Capital, based in Richmond, B.C., is a publicly listed company focused on live and digital entertainment, with a strong emphasis on stand-up comedy. Current assets include Yuk Yuk's Calgary and Surrey Comedy Clubs, Yuk Yuk's Media, and Yuk Yuk's Western Canadian theatre shows. About Yuk Yuk's Inc. Yuk Yuk's is the franchisor of Yuk Yuk's branded comedy clubs across Canada. About Funny Business Production Inc. Funny Business Production owns Yuk Yuk's trademarks and operates the Yuk Yuk's On Tour shows and the Funny Business talent agency.