CALGARY, Alberta, Oct. 04, 2019 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (the “Corporation” or “CEMATRIX”) announces that its wholly owned operating subsidiaries, CEMATRIX (Canada) Inc. (“CCI”), MixOnSite USA Inc. (“MOS”) and Pacific International Grout Company (“PIGCO’) have secured $2.2 million in new Canadian and U.S. infrastructure contracts. These new contracts increase this year’s contracted sales to $33.0 million.
Total contracts and verbally awarded projects for CEMATRIX Group, which includes the contracts noted above, increased by $3.1 million to a record of approximately $71.0 million to date, of which approximately $42.1 million are currently scheduled to carry over into 2020/21.
“The addition of PIGCO on October 1st has more than doubled the sales contracted and verbally awarded to date. These new infrastructure contracts are in direct relation to new projects landed by CCI and MOS and include numerous infrastructure projects valued at less than $0.5 million each. These contracts represent projects throughout Canada and the North Central/Northeast U.S. These new contracts continue to firm up the original forecasts for 2019 and the backlog for 2020 and beyond” stated Jeff Kendrick, CEMATRIX President and CEO. “It has been, and continues to be, a very good year for CEMATRIX and its shareholders.”
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, Illinois based MOS and Bellingham, Washington based Pacific International Grout, CEMATRIX continues to be 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
Glen Akselrod – President, Bristol Capital
Phone: (905) 326 1888 ext 1
glen@bristolir.com
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 August 7, 2019 under CEMATRIX’s profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.
