Toronto, Ontario, Feb. 02, 2023 (GLOBE NEWSWIRE) -- MiniLuxe Holding Corp. (the "Company") (TSXV: MNLX), today announced that it has granted an aggregate of 1,025,000 options at an exercise price of CDN $0.60 to certain officers of the Company to fulfill contractual terms of their employment and services provided to the Company and pursuant to the Company's Omnibus Equity Incentive Compensation Plan (the "Plan"). Such employee options would normally have a strike price set equivalent to prior day closing price at the time of issuance, however, have been set at a premium to prior day close at CDN $0.60 to reflect management and the Board’s view that the company’s value prospects are significantly higher than CDN $0.60. The options are subject to the Company’s standard vesting schedule of 5 years and exercisable for subordinate voting shares of the Company for a period of 10 years following the date of grant.

About MiniLuxe

MiniLuxe, a Delaware corporation based in Boston, Massachusetts is a digital-first, socially-responsible lifestyle brand and talent empowerment platform for the nail and waxing industry. For over a decade, MiniLuxe has been setting industry standards for health, hygiene, and fair labour practices in its efforts to transform the most used, but highly under-regulated nail care industry. MiniLuxe looks to become one of the largest inclusionary educators and vocational employers, with a diverse, predominantly female and BIPOC workforce on its talent empowerment platform.

Today, MiniLuxe derives its revenue streams from talent (provision of nail care and waxing services) and product (through its own proprietary clean nail care products). MiniLuxe is driven by a fully-integrated digital platform that manages all client bookings, preferences and payments and provides designers with the ability to manage scheduling and client preferences, track their performance and compensation, and access training content. Since its inception, MiniLuxe has performed nearly 3 million services. www.miniluxe.com

For further information

Anthony Tjan
Executive Chairman, MiniLuxe Holding Corp.
atjan@miniluxe.com
www.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.