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FINWIRES

MiniLuxe Starts Substantial Issuer Bid For Up To C$6 Million

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MiniLuxe's (MNLX.V) on Tuesday said its board authorized a substantial issuer bid to buy back for cancellation up to C$6 million of its Class A subordinate voting shares.

The offer is being made by way of a "modified Dutch auction", which will allow participating shareholders to individually select the price, between C$0.40 apiece and C$0.48 apiece, in increments of C$0.02 apiece.

The offer will start on Aug. 20, and will cancel on Sept. 24, unless extended or withdrawn, it said.

Shares of the company were last seen up 9.1% at C$0.42 on the TSX Venture Exchange.

Price: $0.42, Change: $+0.04, Percent Change: +9.09%

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