MINILUXE ANNOUNCES CLOSING OF CONVERTIBLE NOTE BRINGING TOTAL RECENT FUNDINGS TO OVER US$6 MILLION

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Boston, MA, April 26, 2024 (GLOBE NEWSWIRE) -- MiniLuxe Holding Corp. (TSXV: MNLX) ("MiniLuxe" or the "Company") is pleased to announce that it has completed a "top up" closing of a non-brokered convertible debenture unit offering, yielding gross proceeds of approximately US$500,000 (the "Offering"). The Offering mirrors the terms of the Company's previously completed debenture financing tranches which were announced on November 30, 2023 and January 22, 2024, collectively raising over US$4.25 million. This recent top up Offering was initiated in order to welcome additional subscriptions from friends and family of existing investors from those prior rounds. In conjunction with the Offering and the previously concluded financings, including a US$2 million follow-on financing from Flow Capital Corp. announced on April 9, 2024, MiniLuxe has received an additional capital influx of over US$6.25 million over the last six months.

The closing of this most recent Offering resulted in the issuance of 475 units of the Company (each, a "Unit" and collectively the "Units"). Each Unit consists of one US$1,000 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 US$0.52 (or ~$0.72 CDN) per share for a period of 42 months from the grant date.

The Debentures and Warrants issued in the Offering are subject to a hold period of four months and one day from the issuance date in accordance with applicable securities laws. Completion of the Offering is subject to the satisfaction of customary closing conditions, including the approval of the TSX Venture Exchange.

Given the robust interest garnered from the Offering and pending certain investment plans, the Company may initiate an additional equity financing over the next 12 months with terms to be determined and announced in due course. Currently the Company holds sufficient capital for ongoing funding operations and planned investments going into 2026.