NEWPORT BEACH, Calif., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Elevai Labs, Inc. (NASDAQ: ELAB) ('Elevai' or the 'Company'), a leader in medical aesthetics, today announced the commencement of an offer to exchange up to 15,000,000 shares of its currently issued and outstanding common stock, par value $0.0001 per share (the 'Common Stock”) for up to 15,000,000 shares of the Company's newly issued Series B Preferred Stock ('Series B Preferred Stock”), with each share of Common Stock being exchangeable in for one share of Series B Preferred Stock. A stockholder who desires to tender Common Stock in this offering must tender all of such stockholder's Common Stock. The exchange offer will expire at the end of the day, 5:00 P.M., New York City Time, on November 5, 2024, unless extended or withdrawn.

The exchange offer will be upon the terms and subject to the conditions set forth in the Offer to Exchange, dated October 4, 2024 (as amended and supplemented from time to time, the 'Offer to Exchange”) and the related Offer materials (as amended and supplemented from time to time, the 'Offer Documents”). The terms of the exchange offer set forth in this press release are just a summary and are qualified in their entirety by the Offer to Exchange and Schedule TO filed with the Securities and Exchange Commission on October 4, 2024.