Listing: TSX-V
Symbol: CYM
TORONTO, June 27, 2019 /CNW/ - Cymat Technologies Ltd.
(the "Company" or "Cymat") is pleased to announce that, subject to
TSX Venture Exchange approval, it has completed a non-brokered
equity private placement financing of 2,092,952 Units at a price of
$0.315 per unit for gross proceeds of
$659,280.
Each unit consists of one common share and one common share
purchase warrant. Each warrant will entitle its holder to purchase
one common share at $0.525 for a
period of three years from the date of issuance. The Warrant will
have an accelerated expiry clause that may be exercised by the
Company should the should the 10-day volume weighted average price
of the common shares, as traded on the TSX Venture Exchange, be
equal to or greater than $1.05.
The Financing proceeds will be used for the purchase of
equipment and for general working capital purposes. Cymat has
submitted the required documents for final TSX Venture Exchange
approval.
"This financing allows us to optimize our existing plant
infrastructure in preparation for the launch of our new
AlusionTM Plus architectural aluminum foam and to
support the continued development of the sandwich panel initiative
with Alucoil in Spain," said Cymat
CEO Michael Liik.
About Cymat:
Cymat Technologies Ltd. is an innovative materials technology
company employing a proprietary process to manufacture our unique
Stabilized Aluminum Foam ("SAF"). Cymat SAF is an advanced
lightweight recyclable material with a wide array of features
including customizable density and dimensions, energy absorption
and thermal and acoustic insulation. Cymat is focused on producing
SAF for architecture, blast mitigation, automotive, transportation
and industrial markets.
Cymat's architectural brand, AlusionTM, has become an
accepted choice for superior and unique cladding and façade
alternatives for the building industry. The AlusionTM
brand is recognized globally, having completed projects on almost
every continent.
Cymat's SmartMetalTM division has developed proven
products for energy absorption applications including blast
mitigation for the military sector and impact reduction for the
nuclear energy sector. Cymat is working with numerous manufacturers
and solution providers around the world for the integration of
SmartMetalTM into kinetic energy management systems.
Cymat is based in Mississauga,
just outside Toronto, where it
operates a 2.400 sq. metre plant. For further information on Cymat,
please visit our Web site www.cymat.com.
SOURCE Cymat Technologies Ltd.