MiniLuxe Holding Corp. announced a non-brokered private placement of 3,585 convertible debenture units at a price of $1,000 per unit for gross proceeds of $3,585,000 on November 30, 2023. Each unit consists of one $1,000 unsecured convertible debenture and such number of class A subordinate voting share purchase warrants. 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 per share for a period of 42 months from the grant date. The debentures carry an interest rate of 11.5%, with each debenture maturing 42 months following the issuance date. The transaction will include participation from certain directors of the company. The completion of all tranches of the offering is subject to the satisfaction of customary closing conditions, including the approval of the TSX Venture Exchange. The debentures and warrants issued pursuant to the initial closing of the offering will be subject to a hold period of four months and one day from the issuance date in accordance with applicable securities laws.

On the same day, the company issued 2,585 convertible debenture units for gross proceeds of $2,585,000 in its first tranche.