Man­i­tex de­clares div­i­dend in kind of Va­leo shares

Stockwatch Daily - - FINANCE - Mr. Steve Sav­iuk re­ports

MAN­I­TEX CAP­I­TAL Inc.’s board of directors has de­clared a special div­i­dend in kind of 1,256,127 com­mon shares of Va­leo Pharma Inc., held by Man­i­tex. The Div­i­dend has a deemed price of $0.40 per Va­leo Share and is payable on, or about, Fe­bru­ary 1, 2019 to hold­ers of record of com­mon shares of Man­i­tex (“Man­i­tex Shares”) at the close of busi­ness on Jan u ary 22, 2019 (the “Record Date”).

The Div­i­dend will be dis­trib­uted on a pro rata ba­sis. Based upon the num­ber of Man­i­tex Shares cur­rently out­stand­ing, and ig­nor­ing the ef­fect of round­ing for frac­tional in­ter­ests, one Va­leo Share will be paid un­der the Div­i­dend for ev­ery ten Man­i­tex Shares (or 0.1 Va­leo Share per Man­i­tex Share) held on the Record Date.

The dis­tri­bu­tion of the Va­leo Shares form­ing the Div­i­dend is ex­empt from the prospec­tus re­quire­ment pur­suant to Reg­u­la­tion 45-106. After dis­tri­bu­tion of the Div­i­dend, Man­i­tex will con­tinue to hold 20,138,908 Va­leo Shares.

The Div­i­dend is an “el­i­gi­ble div­i­dend” for the pur­poses of the In­come Tax Act (Canada) and cor­re­spond­ing pro­vin­cial legislation and there­fore the div­i­dend will be tax­able in the hands of Man­i­tex share­hold­ers. Manit ex share hold ers with ques­tions re­gard­ing the tax treat­ment of div­i­dends should con­sult with their own tax ad­vi­sors or con­tact their lo­cal of­fice of the Canada Rev­enue Agency and, where ap­pli­ca­ble, the pro­vin­cial tax­a­tion au­thor­i­ties.

Va­leo re­ceived a fi­nal re­ceipt from the se­cu­ri­ties reg­u­la­tors for its non-of­fer­ing prospec­tus on De­cem­ber 27, 2018. A copy of the prospec­tus is avail­able un­der Va­leo’s pro­file on SEDAR (www.sedar.com). Va­leo has ap­plied for list­ing of its Class “A” shares on the Cana­dian Se­cu­ri­ties Ex­change (the “CSE”) “. List­ing of the Va­leo Shares will be sub­ject to the cor­po­ra­tion ful­fill­ing all of the list­ing re­quire­ments of the CSE.

For more de­tails on Va­leo Pharma Inc., please con­sult the is­suer’s pro­file on SEDAR at www.sedar.com.

The dis­tri­bu­tion of the Div­i­dend is sub­ject to fi­nal ac­cep­tance by the TSX Ven­ture Ex­change.

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.

Ron­ald S Perry, Wynn Rim­stad, He­len Sav­iuk, Steven Sav­iuk

(MNX) Shares: 12,561,276

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