CALGARY, Alberta, July 18, 2019 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (the “Corporation” or “CEMATRIX”) announces that its wholly owned operating subsidiaries, CEMATRIX (Canada) Inc. and MixOnSite USA Inc. have secured $1.1 million in new Canadian and U.S. infrastructure contracts. These new contracts increase this year’s contracted sales to $20.5 million.
Total contracts and verbally awarded projects for CEMATRIX Group increased by $5.0 million to approximately $31.7 million to date, of which approximately $6.0 million are currently scheduled to carry over into 2020.
“The continued growth in contracted and verbally awarded sales is a testament to the continued growth in the cellular concrete market throughout North America,” stated Jeff Kendrick, CEMATRIX President and CEO. “The cellular concrete market will continue to grow organically with the continued increased product acceptance in Canada and the United States and even more so for CEMATRIX, with the expected completion of the acquisition of Pacific International Grout Company, the leading cellular concrete tunnel grouting supplier in the very near future.”
CEMATRIX is a rapidly growing, cash flow positive company that manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America. This unique cement-based material with superior thermal protection delivers a cost-effective, innovative solution to a broad range of problems facing the infrastructure, industrial (including oil and gas) and commercial markets. Through the recent acquisition of Chicago Based MixOnSite, CEMATRIX is now North America’s largest Cellular Concrete company.
Neither 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 release.
For further information, please contact:
Jeff Kendrick - President and Chief Executive Officer
Phone: (403) 219-0484
Jeff Walker, The Howard Group – Investor Relations
Phone: (888) 221-0915 or (403) 221-0915
jeff@howardgroupinc.com
Forward-looking information: This news release contains certain information that is forward looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, expect”, “would’ or other similar words). Forward looking statements in this document are intended to provide CEMATRIX security holders and potential investors with information regarding CEMATRIX and its subsidiaries’ future financial and operations plans and outlook. All forward looking statements reflect CEMATRIX’s beliefs and assumptions based on information available at the time the statements were made. Readers are cautioned not to place undue reliance on this forward looking information. CEMATRIX undertakes no obligation to update or revise forward looking information except as required by law. For additional information on the assumptions made and the risks and uncertainties which may cause actual results to differ from the anticipated results, refer the CEMATRIX’s Management Discussion and Analysis dated April 1, 2019 under CEMATRIX’s profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.
