CEMATRIX announces increase to its Credit Facility to $8 million
June 27 2024 - 9:24PM
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 CapitalPhone: (905) 326 1888
ext 1glen@bristolir.com
Jeff Walker, The Howard Group – Investor
RelationsPhone: (888) 221-0915 or (403) 221-0915
jeff@howardgroupinc.com
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