K.B. Recycling Industries Ltd., conducting business as Alkemy (“Alkemy” or, the “Company“), a leading environmental technology company based in Israel, announced today the successful closing of its previously announced initial public offering (the “Offering“) of 6,282,984 units of the Company (the “Units“) at a price of C$0.29 per Unit, for total gross proceeds of approximately C$1,822,065, including the exercise in full of the Underwriters’ (as defined below) over-allotment option.