KIRKLAND, QC, Jan. 11, 2019 /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 Valeo Pharma Inc., ("Valeo") held
by Manitex. The Dividend has a deemed price of $0.40 per Valeo Share and is payable on, or
about, February 1, 2019 to holders of
record of common shares of Manitex ("Manitex Shares") at the
close of business on January 22, 2019
(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 Valeo Share
will be paid under the Dividend for every ten Manitex Shares (or
0.1 Valeo Share per Manitex Share) held on the Record Date.
The distribution of the Valeo 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 20,138,908 Valeo 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.
Valeo received a final receipt from the securities regulators
for its non-offering prospectus on December
27, 2018. A copy of the prospectus is available under
Valeo's profile on SEDAR (www.sedar.com). Valeo has applied for
listing of its Class "A" shares on the Canadian Securities Exchange
(the "CSE") ". Listing of the Valeo Shares will be subject to the
corporation fulfilling all of the listing requirements of the
CSE.
For more details on Valeo Pharma 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 Valeo Pharma
Valeo Pharma is a specialty pharmaceutical company dedicated to
the approval and launch of innovative prescription products in
Canada. With a focus on
neurodegenerative diseases, woman's health and rare diseases, Valeo
Pharma has a growing portfolio of innovative products and a
platform to properly manage these products through all stages of
commercialization. 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.
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. Common shares of the company are
listed on the TSX Venture Exchange, trading symbol MNX.V.
Neither the 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.