Manitex Capital Reports Second Quarter Financial Results and Grants Options to Certain Directors

KIRKLAND, QC, June 29, 2022 /CNW/ - Manitex Capital Inc. ("Manitex") reported today its financial results for the second quarter ended April 30, 2022.

Net loss for the quarter was $2,262,459 compared to a net loss of $2,482,495 for the corresponding quarter in 2021. For the six month period ending April 30, 2022 the net loss was $4,998,528 compared to $3,192,234 for the corresponding period in 2021.

Net book value per share ("NBV") as at April 30,2022 was $0.852 compared to an NBV of $1.254 as at October 31, 2021.

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

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.

Steve Saviuk, Chief Executive Officer, Manitex Capital Inc., 16667 Hymus Blvd., Kirkland, Quebec, H9H 4R9, Tel: [phone], [email protected]