KIRKLAND, QC, Sept. 22, 2016 /CNW Telbec/ - Manitex Capital Inc. ("Manitex") is pleased to announce that it has subscribed for and purchased unsecured convertible debentures (the "Debentures") of Cold Water Fisheries Inc. ("CWF") for an aggregate principal amount of $700,000 (the "Principal Amount").
The Debentures have a maturity date of March 31, 2019 ("Maturity Date") and the Principal Amount outstanding under the Debentures is convertible into common shares of CWF at the option of Manitex at any time prior to the Maturity Date. The conversion price is calculated based on a valuation of CWF mutually agreed upon by the parties.
In addition to the subscription of Debentures, Manitex will advise CWF on the execution of its contemplated going public transaction.
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.
About Cold Water Fisheries Inc.
CWF is one of Canada's leading aquaculture companies with operations in Ontario, Nova Scotia, Prince Edward Island and Newfoundland. The company specializes in the production of premium rainbow and steelhead trout for markets in Canada and the United States. CWF maintains a fully vertically integrated operating platform. The company's production infrastructure encompasses everything from hatchery facilities and farm sites to certified processing facilities that produce fresh whole and fileted trout for leading retailers and distributors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE Manitex Capital Inc.
For further information: Manitex Capital Inc., Steve Saviuk, Chairman and CEO, Tel.: 514-694-0150, [email protected]