Listing: TSX-V
Symbol: CYM
TORONTO, Dec. 19, 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 1,729,830 Units
at a price of $0.325 per unit for
gross proceeds of $562,195.
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 $0.425 for a
period of two years from the date of issuance.
The Financing proceeds will be used for the purchase of
production equipment and for general working capital
purposes.
"This financing allows us to continue our plant infrastructure
optimization program and to complete our various other process
efficiency initiatives. Collectively these programs will support
the launch of our new AlusionTM Plus architectural
aluminum foam as well 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.