Mr. Steve Saviuk reports

MANITEX CAPITAL INC. RESTATES PREVIOUSLY REPORTED 2016 QUARTERLY FINANCIAL RESULTS

Manitex Capital Inc. has filed a restatement of its previously reported financial results for the 2016 quarters, together with a revised management discussion and analysis for each respective quarter. The restated financial statements and revised management discussions and analyses are available on SEDAR.

While preparing its Oct. 31, 2016, financial results, the corporation revised its revenue recognition accounting policy pertaining to a distribution contract that was effective Jan. 1, 2016. Revenue from the distribution of products under this contract is required to be shown on a net basis, in accordance with IAS 18, as the corporation is acting as an agent under the terms of the contract. This revised revenue recognition treatment has no impact on the previously stated net loss realized by the corporation in the interim periods.

About Manitex Capital Inc.

Manitex Capital invests in promising emerging companies in diversified sectors, including life sciences, clean tech 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.