Toronto - Aimia Inc. (TSX: AIM) reported its financial results for the three months ended June 30, 2022.

Phil Mittleman, Chief Executive Officer of Aimia, said: 'Facing a difficult and turbulent macro-economic environment, we nonetheless closed the PLM transaction soon after the end of the second quarter. The net cash proceeds received of $537 million ($5.84 per common share) were $45 million more than when we announced the transaction in February. With $580 million in cash and liquid investments, no debt, and approximately $750 million in capital and operating losses, Aimia is now well positioned to capitalize on investment opportunities. Additionally, we renewed the NCIB program in June, and year to date we have repurchased 1,984,259 common shares at an average price of $4.69 per share under the current and predecessor programs. The negative performance of our investment portfolio for the quarter was predominantly related to the result of a worldwide decline in equity values and the Covidrelated lockdowns in China.'

About Aimia

Aimia Inc. (TSX: AIM) is a holding company with a focus on making long-term investments in public and private companies, on a global basis, through controlling or minority stakes.

The company owns a portfolio of investments which include: a 10.85% stake in Clear Media Limited, one of the largest outdoor advertising firms in China, a 48.8% equity stake in Kognitiv, a B2B technology company enabling collaborative commerce, a 10.8% equity stake in TRADE X, a global B2B crossborder automotive trading platform as well as a wholly owned investment advisory business, Mittleman Investment Management, LLC.

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 our 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 phrases 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.

Forward-looking statements in this press release include, but are not limited to, statements with respect to the earn-out in connection with the PLM transaction; the use of proceeds from the PLM transaction, including the allocated amount and any returns to shareholders; purchases under the current NCIB; payment of dividends; the use of Aimia's tax losses; the impacts of COVID-19 on Clear Media and their mitigation by Clear Media; the current and futures strategic initiatives and investment opportunities.

Forward-looking statements, by their nature, are based on assumptions and are subject to known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the forward-looking statement will not occur. The forward-looking statements in this press release speak only as of the date hereof and reflect several material factors, expectations and assumptions. Undue reliance should not be placed on any predictions or forward-looking statements as these may be affected by, among other things, changing external events and general uncertainties of the business. A discussion of the material risks applicable to us can be found in our current Management Discussion and Analysis and Annual Information Form, each of which have been or will be filed on SEDAR and can be accessed at www.sedar.com. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and we disclaim any intention and assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

There are also risks inherent to the anticipated use of proceeds from the PLM transaction described in this press release, including reduction to the final amount of net proceeds from the PLM transaction that could ultimately be allocated to share buybacks and/or tax-efficient special dividend to common shareholders due to the then market conditions, investment opportunities and other relevant factors and failure to make any share buybacks (whether through purchases under the NCIB or otherwise) and/or to pay any tax-efficient special dividend. Accordingly, there can be no assurance that the anticipated use of proceeds will be completed, or that it will be completed in the manner, or at the time, contemplated in this press release. The anticipated use of proceeds as described in this press release could be modified or not occur at all.

Contact:

Media, Analysts and Investors

Steven Leonard

CFO

E: steven.leonard@aimia.com

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