Miniluxe Holding gets further backing from Flow Capital

Executive Summary

• Miniluxe Holding Corp. has completed a follow-on investment of up to US$1.75 million from existing backer Flow Capital Corp. under an existing term loan facility.
• The transaction brings the total available credit facility to US$7,925,000, with an initial advance of US$1.35 million already financed and up to US$400,000 available upon meeting specific milestones.
• The capital is designated for growth plans and general operating purposes, accompanied by the issuance of warrants to Flow Capital.

Key Details

• Transaction Structure: Follow-on investment via existing term loan facility.
• Total Facility Size: Up to US$7,925,000.
• New Investment Amount: Up to US$1.75 million.
• Initial Advance: US$1.35 million financed on closing.
• Contingent Advance: Up to US$400,000 available subject to satisfaction of financing milestones (to be announced in due course).
• Use of Proceeds: Finance Miniluxe's growth plans and general operating purposes.
• Warrant Issuance: Flow Capital receives warrants to purchase an aggregate of 687,234 subordinate voting shares.
• Warrant Expiration: April 30, 2028 (coincident with loan maturity).
• Warrant Strike Prices:
  • 296,610 warrants exercisable at US$0.59 per share.
  • 390,624 warrants exercisable at US$0.96 per share.
• Warrant Hold Period: Four months and one day from issuance date.
• Regulatory Status: Conditionally approved by TSX Venture Exchange; subject to final approval.

Notable Quotes

• None provided in the text.