CYM Cymat Technologies Ltd

MISSISSAUGA,ON, Sept. 7, 2022 /CNW/ - Cymat Technologies Ltd. (TSXV: CYM) (OTCQB: CYMHF) (the "Company" or "Cymat") is pleased to announce that the Company has received a purchase order for military under-belly blast protection kits ("blast kits") from an Asian military vehicle manufacturer for use by the Singaporean military. This order for three blast kits represents the first production order of ultimately up to 700 blast kits by this military. The final value of the purchase orders is anticipated to be between $5 and $7 million.

Cymat previously announced the delivery of two underbelly kits (see press release dated September 20, 2021). Those kits were delivered for the purposes of conducting further testing and evaluation by the manufacturer and military with the objective of retrofitting their fleet of troop and supply carrying vehicles. With testing now completed, our customer has confirmed the military's commitment to moving forward to install the blast kits on their vehicles and the commencement of Low Rate Initial Production ("LRIP").

Cymat has been working for years on developing blast kits for various military patrol vehicles in active use. These blast kits are designed to mitigate the usually fatal effects of Improvised Explosive Devices ("IEDs") or very powerful land mines. Cymat's SmartMetal™ stabilized aluminum foam ("SAF") has been proven to be particularly effective at absorbing and reducing the energy of the compressed air wave that precedes these explosions.

Cymat CEO, Michael Liik commented, "This is truly an exciting breakthrough for Cymat in the military sector. The successful testing and resulting long-term production order, has provided our customer with the impetus to now expand marketing of their improved vehicle design, incorporating our blast kit, to other military organizations that deploy this vehicle."  Mr. Liik further added, "By obtaining this order, Cymat will achieve a solid long-term base load for its factory, as well as enhance its credibility with other vehicle manufactures with whom we are currently in discussions."

Cymat Technologies Ltd. has the global rights, through patents and established know-how, to manufacture and sell Stabilized Aluminum Foam ("SAF"), a unique, ultra-light, cellular metallic material. The proprietary production process entails the injection of gases through a molten bath of alloyed aluminum infused with ceramic particles. The result is an advanced, lightweight, recyclable material that exhibits unique characteristics including: customizable density and dimensions; mechanical energy absorption; thermal and acoustic insulation; and time, temperature and strain-rate insensitivity. A key benefit of this continuous foam production process is its scalability and resultant low cost of production. SAF is used in such industries as architectural design, military and automotive. Cymat markets its architectural SAF under the Alusion™ brand and its automotive and military SAF under the SmartMetal^™ brand. For further information, please visit our website at www.cymat.com. 

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

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SOURCE Cymat Technologies Ltd.