illumin Holdings Inc. (TSX:ILLM) announces a share repurchase program. Under the substantial issuer bid, the company will repurchase up to 15,810,276 of its common shares for CAD 40 million. The shares will be tendered at a price of not less than $2.53 per share and not more than $2.65 per share.

The company plans to fund the offer from available cash on hand. The shares purchased under the offer will be cancelled. All Shares tendered at or below the finally determined purchase price will be purchased, subject to proration and ?odd lot?

priority, at the same purchase price determined pursuant to the terms of the Offer. Shares that are not purchased, including Shares tendered pursuant to auction tenders at prices above the purchase price, will be returned to shareholders. The bid will expire on August 30, 2023, unless extended or withdrawn.