MINILUXE ANNOUNCES NORMAL COURSE ISSUER BID FOR CLASS A SUBORDINATE VOTING SHARES

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR

FOR DISSEMINATION IN THE UNITED STATES

Boston, MA, Feb. 28, 2024 (GLOBE NEWSWIRE) -- MiniLuxe Holding Corp. (TSXV: MNLX) (“MiniLuxe” or the “Company”) announces today its intention to commence a normal course issuer bid through the facilities of the TSX Venture Exchange (the "TSXV") to repurchase, for cancellation, up to 2,800,000 Class A subordinate voting shares of the Company, representing approximately 5% of the Company's presently issued and outstanding Class A subordinate voting shares (the "NCIB"). The NCIB remains subject to the final approval of the TSXV.

The NCIB will commence on March 6, 2024 and will terminate upon the earliest of (i) the Company purchasing 2,800,000 Class A subordinate voting shares, (ii) the Company providing notice of termination of the NCIB, and (iii) March 6, 2025. Under the NCIB, the Company may not acquire more than 2% of its issued and outstanding subordinate voting shares in any 30-day period.

The Company believes that, from time to time, the market price of its Class A subordinate voting shares does not adequately reflect the Company’s underlying value and prospects and that, at such times, the purchase of the Company's Class A subordinate voting shares represents an appropriate use of the Company’s financial resources and will enhance shareholder value.

The Company has engaged Canaccord Genuity Corp. to act as its broker for the NCIB (the "Broker"). The NCIB will be made through the facilities of the TSXV and the purchase and payment for the Class A subordinate voting shares will be made from the Company's existing working capital at the market price of the applicable securities at the time of acquisition, plus brokerage fees, if any, charged by the Broker. All Class A subordinate voting shares purchased by the Company under the NCIB will be cancelled.

In connection with the NCIB, the Company has entered into an automatic purchase plan ("APP") with the Broker as the designated broker. The APP provides a set of standard instructions to the Broker to make purchases under the NCIB in accordance with the limits and other terms set out in the APP. The Broker will determine the timing of these purchases in its sole discretion based on purchasing parameters set by the Company and subject to the policies of the TSXV, applicable securities laws and the terms of the APP.