Manitex Capital Inc. Restates Previously Reported Q1 2020 Quarterly Financial Results and Grants Options to Certain Directors

KIRKLAND, QC, June 30, 2020 /CNW Telbec/ - Manitex Capital Inc. ("Manitex" or the "Company") announced today that it has filed a restatement of its previously reported financial results for January 31, 2020, together with a revised management discussion and analysis ("MD&A") for the quarter.  The restatement was required due to an error in the calculation of the Deferred Tax Liability.  The restated financial statements and revised MD&A are available on SEDAR at www.sedar.com.

Grant of options to certain directors

Manitex also announced today that it had issued a total of 200,000 stock options ("Options") to two independent directors under the Company's incentive stock option plan. All Options expire five years following their date of grant. 100,000 Options vest immediately while 100,000 Options vest 1/3 immediately, 1/3 after one year and 1/3 after two years.

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.

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 Manitex are listed on the TSX Venture Exchange, under trading 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.