CEMATRIX Corporation Announces $3.0M in Contracts and Increases Total Backlog to $80.4M CDN
CALGARY, Alberta, May 19, 2020 (GLOBE NEWSWIRE) — CEMATRIX Corporation (TSXV: CVX) (the “Corporation” or “CEMATRIX”) a North American leading manufacturer and supplier of technologically advanced cellular concrete products today announced that its wholly owned operating subsidiaries, CEMATRIX (Canada) Inc. (“CCI”), MixOnSite USA Inc. (“MOS”) and Pacific International Grout Company (“PIGCO”) have contracted several new infrastructure projects with a total contract value of $3.0M CDN.
The Group of Companies also increased its total contracted and verbally awarded (mainly contracts in process) projects to $80.4M CDN from $78.5M CDN of which approximately $40.0M CDN is currently scheduled to carry over into 2021/22.“While we are proceeding cautiously as an organization during these unprecedented times, with the health and safety of our employees, customers and partners a priority, we are pleased to have experienced minimal impact related to COVID-19 on CEMATRIX’s group of businesses,” stated Jeff Kendrick, CEMATRIX President and CEO. “Previously delayed major North American infrastructure projects are beginning to resurface and there are clear signals from different levels of Government in the US and Canada regarding the need to invest into infrastructure. Aging infrastructure coupled with the need for additional economic stimulus has CEMATRIX well positioned in the near term and the future continues to look bright for CEMATRIX and our shareholders.”ABOUT CEMATRIX
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 cost-effective, innovative solutions to a broad range of problems facing the infrastructure, industrial (including oil and gas) and commercial markets. Through recent acquisitions of Chicago based MixOnSite and Bellingham based Pacific International Grout, 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) 219-0484Glen Akselrod – President, Bristol Capital
Phone: (905) 326 1888 ext 1
[email protected]Jeff Walker, The Howard Group – Investor Relations
Phone: (888) 221-0915 or (403) 221-0915
je[email protected]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 27, 2020 under CEMATRIX’s profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.