VAUGHAN, ON, Nov. 24, 2023 /CNW/ – MAV Beauty Brands Inc. (“MAV Beauty Brands” or the “Company”), a global personal care company, today announced that it has obtained the approval of the Ontario Superior Court of Justice (Commercial List) under the Companies’ Creditors Arrangement Act for the sale of substantially all of the assets of the Company and its subsidiaries to an affiliate of Nexus Capital Management LP, a Los Angeles-based private equity firm. The Company anticipates that the completion of the sale will occur on or about December 8, 2023, but not later than December 22, 2023, subject to the satisfaction or waiver of customary closing conditions.

MAV Beauty Brands anticipates that its operations will continue uninterrupted in the ordinary course of business.

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The trading of the Company’s common shares on the Toronto Stock Exchange (the “TSX”) has halted and the TSX will delist the Company’s common shares on December 21, 2023.

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MAV Beauty Brands is a global hair care and personal care platform focused on managing independent brands. Today, MAV Beauty Brands markets a diversified portfolio of four complementary brands – Marc Anthony True Professional, Renpure, Cake Beauty and The Mane Choice – offering premium quality hair care, face and body care beauty products. These products are sold in over 25 countries around the world and in many major retailers.

Nexus Capital Management LP is an alternative asset investment management company based in Los Angeles, California that was founded in 2013. Nexus employs a flexible investment mandate that focuses on long-term value creation by partnering with leading management teams and businesses.

For more information on Nexus, please visit www.nexuslp.com.

Additional Information is available at a website maintained by the Monitor, Alvarez & Marsal Canada Inc., at https://www.alvarezandmarsal.com/mav.

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Certain information in this press release, including the anticipated closing date of the sale of substantially all of its assets to an affiliate of Nexus Capital Management LP and the Company’s operations continuing uninterrupted in the ordinary course of business, generally constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by MAV Beauty Brands as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Company’s most recently filed Annual Information Form, the “Risk Factors” section of the Company’s most recently filed MD&A, and the Company’s other periodic filings made available at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect MAV Beauty Brands; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and MAV Beauty Brands expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE MAV Beauty Brands

For further information: Craig Armitage, Investor Relations, [email protected], (416) 347-8954

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