Mr. Eric Lapointe reports

ICARUS CAPITAL CORP. APPOINTS JIM BOYLE AS STRATEGIC ADVISOR AND ANNOUNCES STOCK OPTION GRANTS

Icarus Capital Corp. has appointed veteran Canadian securities lawyer Jim Boyle as strategic adviser to the company, along with the granting of 1.1 million stock options to directors, officers, an employee and its newly appointed adviser.

Based in Toronto, Mr. Boyle currently practises law as counsel with Irwin Lowy LLP, and brings extensive experience in Canadian securities law, corporate finance, corporate governance and capital markets. His career includes involvement in the establishment and development of the Canadian Securities Exchange, as well as advising public companies on financing, regulatory matters and corporate transactions.

In his new advisory role, Mr. Boyle will provide strategic guidance to Icarus Capital on corporate development, mergers and acquisitions, governance, and opportunities for long-term growth.

"We are delighted to welcome Jim to Icarus Capital," said Eric Y. Lapointe, chief executive officer. "His extensive experience in Canadian capital markets, combined with his understanding of the challenges and opportunities facing emerging public companies, will be invaluable as we continue to strengthen Icarus and pursue new opportunities for growth."

Stock option grants

The company also announces that its board of directors approved the grant of an aggregate of 1.1 million stock options on Oct. 26, 2026, under the company's existing stock option plan.

The options have been allocated as follows:

• Mr. Boyle, strategic adviser: 235,000 options;
• Eric Y. Lapointe, chief executive officer and director: 225,000 options;
• Arjun Rudra, chief financial officer: 225,000 options;
• John Sinclair, director: 150,000 options;
• Scott Robertson, general manager, Yuk Yuk's Calgary: 150,000 options;
• Kevin Booth, director: 115,000 options.

All options vest immediately and are exercisable at five cents per common share for a period of five years, expiring Oct. 26, 2031, subject to the company's stock option plan and applicable TSX Venture Exchange requirements.

About Icarus Capital Corp.

Based in Surrey, B.C., Canada, Icarus Capital specializes in live and digital entertainment, primarily focused on stand-up comedy. The company is publicly traded on the TSX Venture Exchange under the ticker symbol ICRS. Its current assets include the Yuk Yuk's Calgary Comedy Club, Yuk Yuk's Surrey Comedy Club, Yuk Yuk's Media and Yuk Yuk's Western Canadian Theatre Shows.

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