Listing: TSX-V
Symbol: CYM
TORONTO, March 17, 2020 /CNW/ - Cymat Technologies Ltd.
(the "Company" or "Cymat") is pleased to announce that the Company
has received TSX Venture Exchange approval for the equity financing
announced on March 13, 2020.
Accordingly, Cymat has closed its non-brokered equity private
placement financing of 561,538 Units at a price of $0.325 per unit for gross proceeds of
$182,500.
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
up to March 17, 2022. No insiders
participated in the financing and no finder's fees nor commissions
are payable in connection with the financing.
As previously announced, the proceeds will be used for the
purchase of production equipment and for general working capital
purposes.
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.