MINILUXE ANNOUNCES $2M OF NEW INVESTMENT FROM FLOW CAPITAL

MiniLuxe Holding Corp.

MiniLuxe Holding Corp.

Company refinances existing term debt and receives a new incremental $2.0M USD of financing

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

Boston, MA , April 09, 2024 (GLOBE NEWSWIRE) — MiniLuxe Holding Corp. (TSXV:MNLX) (“MiniLuxe” or the “Company”) is pleased to announce that Flow Capital Corp. (TSXV:FW) (“Flow Capital”), a leading provider of flexible growth capital and alternative debt solutions, has completed a follow-on investment of $2.0M USD from its initial term debt investment of $2.5M USD in 2021. The refinancing benefits the Company with incremental capital in the form of a non-amortizing loan, allowing for flexible use of the capital and an extension of the maturity date of the initial debt investment by Flow Capital to 2027. As part of the transaction the Company will be issuing to Flow Capital warrants to purchase 1,692,308 Subordinate Voting Shares of the Company at a strike price of $0.52 USD (~$.71 CDN) per share for a period of three years from the date of issuance. The warrants are subject to a hold period of four months and one day from the issuance date in accordance with applicable securities laws. The refinancing was conditionally approved by the TSX Venture Exchange and remains subject to their final approval.

“This follow-on investment in MiniLuxe reflects our confidence in the Company’s leadership and meaningful recent progress including continued growth of its core studio business that is achieving industry-leading metrics” said Alex Baluta, Chief Executive Officer of Flow Capital.

“We are pleased to continue our relationship with Flow Capital as they have been good partners with an ability to underwrite through an operator and financier lens. This new investment complementing other recent funding activities gives us greater flexibility across our working capital and growth investment needs with a company favorable structure,” said Anthony Tjan, CEO of MiniLuxe.

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.

About MiniLuxe

MiniLuxe is a Delaware corporation based in Boston, Massachusetts. Miniluxe is a lifestyle brand and talent empowerment platform servicing the beauty and self-care industry. The Company focuses on delivering high-quality nail care and esthetic services and offers a suite of trusted proprietary products that are used in the Company’s owned-and-operated studio services. For over a decade, MiniLuxe has been elevating industry standards through healthier, ultra-hygienic services, a modern design aesthetic, socially responsible labor practices, and better-for-you, cleaner products. MiniLuxe aims to radically transform the highly fragmented and under-regulated self-care and nail care industry through its brand, standards, and technology platform that collectively enable best-in-class talent and client experiences. For its clients, MiniLuxe offers industry leading self-care services and better-for-you products, and for nail care and beauty professionals, MiniLuxe seeks to become the employer of choice. In addition to creating long-term durable economic returns for our stakeholders, the brand seeks to positively impact and empower one of the most diverse and largest hourly worker segments through professional development and certification, economic mobility, and company ownership opportunities (e.g., equity participation and future franchise opportunities). Since its inception, MiniLuxe has completed over 3.5 million services.

About Flow Capital

Flow Capital is a diversified alternative asset investor and advisor, specializing in providing minimally dilutive capital to emerging growth businesses. For more information on Flow Capital, please visit www.flowcap.com.

For further information

Christine Mastrangelo
Corporate Secretary and Investor Relations, MiniLuxe Holding Corp.
cmastrangelo@miniluxe.com
miniluxe.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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