CEMATRIX Corporation Provides Business Update; Addresses Changes to COVID-19 Impact
CALGARY, Alberta, April 08, 2020 (GLOBE NEWSWIRE) — CEMATRIX Corporation (TSXV: CVX) (the “Corporation” or “CEMATRIX”), a North American leading manufacturer and supplier of technologically advanced cellular concrete products, would like to provide a business update related to the impact of COVID-19, as mentioned in its news release dated March 26, 2020. While the situation continues to be extremely fluid, CEMATRIX projects, including those of its subsidiaries, CEMATRIX (Canada) Inc. (“CCI”), MixOnSite USA Inc. (“MOS”) and Pacific International Grout Company (“PIGCO”) continue to move forward as scheduled. The COVID-19 virus could still impact CEMATRIX or its operating subsidiaries in some way, but as of today, the Corporation has rectified its short-term cash flow needs and is pouring product in several locations daily in accordance with its current forecast.
“At CEMATRIX, we do consider ourselves very fortunate to be healthy; to continue to be considered an essential business; and to continue to be able to satisfy the needs of our customers”, stated Jeff Kendrick, President and CEO of CEMATRIX. “Our hearts go out to all of our health care workers and first responders; together with their families; all others working in support of them; to our field project staff and their families and to each of the American and Canadian families that have been affected in some way by this virus. Let us all get through this together, by helping each other and by following the guidelines set out by our health officials and governments.”“We thank you for your continued support and wish you and your families all the best during these difficult times,” concluded Mr. Kendrick.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
[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 November 7, 2019 under CEMATRIX’s profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.