The Toronto Stock Exchange reports that Illumin Holdings Inc. has made an offer to purchase up to $40-million of its common shares, pursuant to a modified Dutch auction, consisting of: (i) auction tenders in which the tendering shareholders specify a price of not less than $2.53 per share and not more than $2.65 per share (in increments of one cent per share); or (ii) purchase price tenders in which the tendering shareholders do not specify a price per share. According to the TSX, shares tendered will be deemed to have been tendered at a price that will not be less than $2.53 per share and not more than $2.65 per share. If required, validly tendered shares will be purchased on a pro rata basis according to the number of shares tendered by each shareholder (with adjustments to avoid the purchase of fractional shares). Shareholders who own fewer than 100 shares as of the expiration time will not be subject to pro ration.

The TSX reports that the offer will expire at 5 p.m. Toronto time on Aug. 30, 2023, unless extended, varied or withdrawn. To tender to the offer, shareholders must return the letter of transmittal, together with share certificates, to TSX Trust Company at its principal offices in Toronto or follow the procedures for book entry transfer set out in the offering document. Shareholders whose shares are represented by a direct registration system (DRS) advice do not need to return the DRS advice and are only required to complete the letter of transmittal and return it to the depositary.

The TSX notes that the notice of guaranteed delivery must be completed and received by the depositary on or prior to the expiration date of the offer. The letter of transmittal, along with the shares, if applicable, pertaining to the notice of guaranteed delivery, must be received in Toronto before 5 p.m. Eastern Time on or before the second TSX trading day after the expiration date. Trades on Aug. 30, 2023, will settle on Aug. 31, 2023. For more information, see the offer dated July 27, 2023, filed on SEDAR+.