KIRKLAND, QC, Sept. 11, 2017 CNW Telbec/ - Manitex Capital
Inc. ("Manitex") is pleased to announce that its board of
directors has declared a special dividend-in-kind (the
"Dividend") of 1,256,127 common shares of Auxico Resources
Canada Inc., ("Auxico Shares") held by Manitex. The
Dividend has a deemed price of $0.25
per Auxico Share and is payable on, or about, October 3, 2017 to holders of record of common
shares of Manitex ("Manitex Shares") at the close of
business on September 19, 2017 (the
"Record Date").
The Dividend will be distributed on a pro rata basis. Based upon
the number of Manitex Shares currently outstanding, and ignoring
the effect of rounding for fractional interests, one Auxico Share
will be paid under the Dividend for every ten Manitex Shares (or
0.1 Auxico Share per Manitex Share) held on the Record Date.
The distribution of the Auxico Shares forming the Dividend is
exempt from the prospectus requirement pursuant to Regulation
45-106. After distribution of the Dividend, Manitex will continue
to hold 983,873 Auxico Shares.
The Dividend is an "eligible dividend" for the purposes of the
Income Tax Act (Canada) and
corresponding provincial legislation and therefore the dividend
will be taxable in the hands of Manitex shareholders.
Manitex shareholders with questions regarding the tax
treatment of dividends should consult with their own tax advisors
or contact their local office of the Canada Revenue Agency and,
where applicable, the provincial taxation authorities.
For more details on Auxico Resources Canada Inc., please consult
the issuer's profile on SEDAR at www.sedar.com.
The distribution of the Dividend is subject to final acceptance
by the TSX Venture Exchange.
Caution regarding forward-looking statements
This news release may contain certain forward-looking statements
regarding the Company's expectations for future events. Such
expectations are based on certain assumptions that are founded on
currently available information. If these assumptions prove
incorrect, actual results may differ materially from those
contemplated by the forward-looking statements contained in this
press release. Factors that could cause actual results to differ
include, amongst others, uncertainty as to the final result and
other risks. The Company disclaims any intention or obligation to
publicly update or revise any forward- looking statements, whether
as a result of new information, future events or otherwise, other
than as required by security laws.
About Auxico Resources Canada Inc.
Auxico is a reporting issuer in the provinces of Quebec, Ontario, Alberta and British
Columbia and is engaged in the acquisition, exploration and
development of mineral properties. Auxico owns a 100% interest in
the Zamora silver-gold property in
Mexico (the "Property") and
holds an exclusive license on patented technology in the recovery,
separation and refining of precious metals. Auxico's current focus
is to conduct its exploration program on the Property.
About Manitex Capital Inc.
Manitex Capital Inc. invests in promising emerging companies in
diversified sectors including life sciences, cleantech and
sustainable products/technologies. Manitex provides its portfolio
companies with specialized corporate finance and advisory services
including corporate strategy, mergers and acquisitions, public
markets access and financing. Manitex currently has 12,561,276
common shares outstanding which are quoted for trading on the TSX
Venture Exchange, symbol MNX.V.
TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accept responsibility for the adequacy or accuracy of this
release.
SOURCE Manitex Capital Inc.