TORONTO, July 22, 2024 /CNW/ - As previously announced, Aimia Inc. (TSX: AIM) ("Aimia" or the "Company") entered into an agreement with Milkwood Capital (UK) Ltd. ("Milkwood") on July 16, 2024 to purchase for cancellation 1,300,000 of its common shares owned by Milkwood (the "Repurchased Shares") for a price per Repurchased Share corresponding to the lesser of (i) $2.55 (representing 96% of the volume-weighted average price of the common shares of Aimia on the Toronto Stock Exchange (the "TSX") for the 20 trading days ended on July 16, 2024) and (ii) $2.53 (representing 96% of the volume-weighted average price of the common shares of Aimia on the TSX for the 3 trading days ended on July 19, 2024) the date of closing. The transaction was completed following the close of markets on July 19, 2024 and the 1,300,000 Repurchased Shares were repurchased at a price of $2.53 per Repurchased Share, representing an aggregate repurchase price of $3,289,000. The repurchase counts towards the 7,009,622 common shares Aimia is entitled to purchase for cancellation under its normal course issuer bid during the 12-month period beginning on June 6, 2024 and ending June 5, 2025.

About Aimia

Aimia Inc. (TSX: AIM) is a diversified company focused on unlocking the growth potential of its two global businesses, Bozzetto, a sustainable specialty chemicals company, and Cortland International, a rope and netting solutions company. Headquartered in Toronto, Aimia's priorities include monetizing its non-core investments, returning capital to its shareholders, and efficiently utilizing its loss carry-forwards to create shareholder value.

For more information about Aimia, visit www.aimia.com.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking information" within the meaning of Canadian securities laws ("forward-looking statements"), which are based upon Aimia's current expectations, estimates, projections, assumptions and beliefs. All information that is not clearly historical in nature may constitute forward-looking statements. Forward-looking statements are typically identified by the use of terms such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would" and "should", and similar terms and phrases, including references to assumptions.