KIRKLAND, QC, Jan. 23, 2017 /CNW Telbec/ – Manitex Capital Inc. ("Manitex") is pleased to announce that it has subscribed for and purchased 2,000,000 common shares (the "Shares") of Auxico Resources Canada Inc. ("Auxico") at a subscription price of $0.25 per Share, for an aggregate principal amount of $500,000 (the "Investment").
In addition to its Investment, Manitex has also entered into a Consulting and Advisory Services Agreement with Auxico pursuant to which Manitex will advise Auxico 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 Auxico Resources Canada Inc.
Auxico is a privately held company incorporated under the Canada Business Corporation Act, engaged in the acquisition, exploration and development of mineral properties. Auxico owns a 100% interest in the Zamora silver-gold property in Mexico (the "Property") and holds an exclusive license on patented technology in the recovery, separation and refining of precious metals. Auxico's current focus is to conduct its exploration program on the Property. Auxico intends to complete a going public transaction on a Canadian stock exchange in Q1 2017.
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]