KIRKLAND,
QC, Aug. 25, 2014 /CNW Telbec/
- Manitex Capital Inc. (the "Company") (TSXV: MNX) today announced
that its 40% owned subsidiary, Valeo Pharma Inc., has completed the
sale of its dermatology portfolio and several specialty products to
Valeant Canada LP for an aggregate consideration of $25.3 million of which $18.3 million will be paid in cash at closing and
the balance will be subject to certain post-closing adjustments to
take place over a period of three years.
"Valeant is a leader in the field of dermatology
and Valeo Pharma's dermatology products are a strong complement to
Valeant's extensive portfolio," commented Steve Saviuk, Chairman and CEO of Manitex
Capital Inc. "In addition, for a three year period, Valeo
Pharma will be actively involved with Valeant in the management and
promotion of the three specialty injectable products included in
this sale."
According to Mr. Saviuk, "this transaction will
allow Valeo Pharma to focus its product development,
acquisition, in-licensing and commercialization efforts on other
specialty therapeutic areas and orphan diseases."
Caution regarding forward-looking statements
This news release may contain certain
forward-looking statements regarding the Company'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. The Company 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. specializes in the
acquisition of equity interests in emerging or established
companies and actively participates in increasing shareholder value
in these businesses. Manitex currently has 12,361,276 common shares
outstanding which are quoted for trading on the TSX Venture
Exchange.
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.