KIRKLAND, QC, Aug. 28, 2019 /CNW Telbec/ - Manitex Capital Inc.
("Manitex") is pleased to announce that it has completed the
distribution to its shareholders of its previously announced
special dividend-in-kind (the "Dividend") of share purchase
warrants of Valeo Pharma Inc., ("Valeo Warrants") held by
Manitex.
The Dividend has a deemed price of $0.065 per Valeo Warrant and was distributed
today to holders of record of common shares of Manitex ("Manitex
Shares") at the close of business on August 9, 2019 (the "Record Date"), on a
pro rata basis of 0.1 Valeo Warrant per Manitex Share. A total of
1,253,327 Valeo Warrants were distributed to Manitex shareholders
residing in Canada and after
distribution of the Dividend, Manitex continues to hold 360,515
Valeo Warrants. No Valeo Warrants were delivered to Manitex
shareholders residing outside of Canada. Consequently, non-resident Manitex
shareholders will receive their pro-rata share of the cash
equivalent of the Dividend.
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 Valeo Pharma Inc. please consult the
issuer's profile on SEDAR at www.sedar.com.
The TSX Venture Exchange issued a bulletin on August 6, 2019 approving the distribution of the
Dividend by Manitex.
About Valeo Pharma Inc.
Valeo Pharma is a specialty pharmaceutical company dedicated to
the commercialization of innovative prescription products in
Canada. With a focus on
Neurodegenerative Diseases, Oncology, Women's Health and Hospital
Specialty Products, Valeo Pharma has a growing portfolio of
innovative products and the full infrastructure to properly manage
these products through all stages of commercialization. Valeo
Pharma has exclusively launched Onstryv® (safinamide tablets) in
Canada for the treatment of
patients suffering from Parkinson's Disease and has entered into a
licensing agreement for exclusive rights register, distribute and
market a low molecular weight heparin biosimilar in Canada.
Headquartered in Kirkland,
Quebec, Valeo Pharma has all capabilities internally to
register and market health care solutions for Canadian patients.
For more information, please visit www.valeopharma.com and
follow the company on Linkedin and Twitter.
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 .
Caution regarding forward-looking statements
This news release may contain certain forward-looking statements
regarding Manitex'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. Manitex 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.
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.