MINILUXE ANNOUNCES EXTENSION OF PRIVATE PLACEMENT

To facilitate the closing of additional subscriptions previously described of approximately USD$1 million

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Boston, MA, Dec. 22, 2023 (GLOBE NEWSWIRE) -- MiniLuxe Holding Corp. (TSXV: MNLX) ("MiniLuxe" or the "Company") today announces that the Company has been granted a 30-day extension from the TSX Venture Exchange (the "TSXV") to extend the closing of its previously announced non-brokered private placement (the "Offering") to January 22, 2024.

The closing of the initial tranche of the Offering was announced on November 30, 2023, and resulted in the issuance of 2,585 units of the Company (each, a "Unit" and collectively the "Units") at a price of $1,000 USD per Unit. At that time, it was also announced that the Company had received total signed commitments of approximately USD$3.5 million dollars (approximately USD$1 million to be closed at a later date).

Each Unit consists of one $1,000 USD principal amount, 11.5% paid-in-kind simple interest for an unsecured convertible Debenture of the Company (each, a "Debenture" and collectively the "Debentures"), with each Debenture maturing 42 months following the issuance date, and such number of Class A subordinate voting share purchase warrants (each a "Warrant" and collectively the "Warrants") as is equal to 15% of the principal amount of Debentures. Each Warrant entitles the holder thereof to acquire such number of Class A subordinate voting shares as is equal to 15% of the principal amount of the Debentures at a price of $0.52 USD (or ~$0.70 CDN) per share for a period of 42 months from the grant date. For more information about the Offering please refer to the Company's press release dated November 30, 2023.

Completion of all tranches of the Offering is subject to the satisfaction of customary closing conditions, including the approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.