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Toronto, Ontario, July 29, 2022 (GLOBE NEWSWIRE) — MiniLuxe Holding Corp. (the “Company”) MNLX, today announced that as part of its normal course of hiring and incentivizing key employees that it has granted an aggregate of 490,674 options at a weighted average exercise price of USD $0.72 to certain officers of the Company.
These issuances represent incentives for services by key employees to the Company pursuant to the Company’s Omnibus Equity Incentive Compensation Plan (the “Plan”). Approximately 300,000 of the options were granted to a key executive hire pursuant to the terms of her employment agreement at a strike price of USD $0.96. The balance of the options were granted to certain other officers of the Company at a strike price of USD $0.35 as part of the Company’s 2021 bonus program. All of the options are exercisable for subordinate voting shares of the Company for a period of 10 years following the date of grant and vest according to the Company’s standard five-year vesting schedule.
The Company sees equity-based compensation and employee and director ownership as an intentional philosophy and strategy for aligning the interests of management and board with those of the Company’s shareholders.
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.
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