Manitex Capital Reports Third Quarter Financial Results and Grants Options to its Officers

KIRKLAND, QC, Sept. 29, 2022 /CNW/ - Manitex Capital Inc. ("Manitex") reported today its financial results for the third quarter ended July 31, 2022.

Net loss for the quarter was $ 1,289,844 compared to net income of $379,385 for the corresponding quarter in 2021. For the nine-month period ending July 31, 2022 the net loss was $6,303,663 compared to $2,816,012 for the corresponding period in 2021.

Net book value per share ("NBV") as at July 31,2022 was $0.753 compared to an NBV of $1.254 as at October 31, 2021.

Manitex also announced today that it has issued a total of 1,050,000 stock options ("Options") to the officers of the Corporation following the expiry of the prior Options granted to such officers five (5) years ago today. All Options have an exercise price of $0.72, vest immediately and expire five (5) years following the date of grant.

About Manitex Capital

Manitex is a diversified investment company specialized in investing in emerging as well as established companies and assists in increasing shareholder value. Manitex currently has 12,661,276 common shares outstanding which are quoted for trading on the TSX Venture Exchange (TSX:MNX).

Forward Looking Statements

This press release may contain certain forward-looking information and statements concerning Manitex's operations, performance and financial condition, including, in particular, the likelihood of Manitex's success in developing and expanding its business. These statements are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond Manitex's control. Actual results may differ materially from those expressed or implied by such forward-looking statements.

SOURCE Manitex Capital Inc.

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