KIRKLAND, QC, Feb. 13, 2015 /CNW Telbec/ - This news
release is being disseminated as required by National Instrument
62-103 The Early Warning System and Related Take-Over Bid and
Insider Reporting Issues in connection with the filing of an
early warning report ("Early Warning Report") regarding the
acquisition by Simcor Canada Holdings Inc. ("Simcor"), a
holding company controlled by Mr. Steven
Saviuk, Chairman and CEO of Manitex Capital Inc.
("Manitex" or the "Corporation"), of 1,016,406 common
shares of Manitex (the "Acquired Shares") at a price of
$0.30 per Acquired Share from
Pinetree Capital Inc. on February 12,
2015 (the "Acquisition"). Simcor's registered office
is located at 16 667, Hymus Boulevard in Kirkland, Quebec.
Simcor purchased the Acquired Shares for investment purposes and
it is not acting jointly or in concert with any other persons or
companies in connection with the Acquisition. The Acquisition was
made in reliance upon the "Private Agreement Exemption" from the
take-over bid requirements pursuant to Multilateral Instrument
62-104 - Take-Over Bids and Issuer Bids. Accordingly, the
Acquisition was made from not more than 5 persons and at a purchase
price not greater than 115% of the market price at the date hereof.
No other exemption from securities legislation is required.
Following the Acquisition, Simcor owns a total of 5,276,042
common shares of Manitex, representing approximately 42.3% of the
currently issued and outstanding common shares of Manitex. As a
result of his controlling interest in Simcor and his own personal
holdings, Mr. Saviuk now owns, directly or indirectly,
approximately 47.4% of the issued and outstanding common shares of
Manitex.
An Early Warning Report respecting the Acquisition will be filed
electronically on the Corporation's SEDAR profile, available at
www.sedar.com.
Simcor will also file, within the prescribed period, an insider
report via the System for Electronic Disclosure by Insiders
("SEDI") for the Acquisition.
Caution regarding forward-looking statements
This news release may contain certain forward-looking statements
regarding the Corporation'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 Corporation 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 Manitex Capital Inc.
Manitex Capital Inc. specializes in the acquisition of equity
interests in emerging or established companies and actively
participates in increasing shareholder value in these businesses.
Manitex currently has 12,461,276 common shares outstanding which
are quoted for trading on the TSX Venture Exchange.
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.