CALGARY, Alberta, June 27, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products today announced that it has secured an increase to its credit facility with the Canadian Imperial Bank of Commerce (“CIBC”) to support its ongoing growth and short-term annual working capital requirements during peak periods. The increased credit facility now has a maximum borrowing limit of $8 million, which represents a significant increase from the previous limit of $3 million. The other terms of the credit facility remain materially unchanged. The credit facility remains undrawn as of today’s date.
“CEMATRIX is very pleased to announce this increase to our credit facility with CIBC. This additional access to credit helps to ensure we are ready to manage working capital requirements during peak periods,” stated Ms. Marie-Josée Cantin, CFO of CEMATRIX.“This increase in our credit facility, coupled with our strong balance sheet, provides additional flexibility to support our growing business moving forward. We appreciate the continued support of CIBC,” stated Mr. Jeff Kendrick, CEO of CEMATRIX.
ABOUT CEMATRIX
CEMATRIX is a rapidly growing 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 cost-effective, innovative solutions to a broad range of problems facing the infrastructure, industrial, energy and commercial markets. The Company’s wholly owned operating subsidiaries include CEMATRIX (Canada) Inc. (“CCI”), Chicago based MixOnSite USA Inc. (“MOS”) and Bellingham based Pacific International Grout Company (“PIGCO”). This has made CEMATRIX a true leader in North America’s growing Cellular Concrete market. For more information, please visit our website at www.cematrix.com.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by the Company, including satisfaction of regulatory requirements in various jurisdictions and the Company’s anticipated use of the net proceeds of the Offering. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, which could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements.
Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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
