CALGARY, Alberta, Aug. 10, 2018 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (the "Corporation" or "CEMATRIX") is pleased to announce a non-brokered private placement of up to 8,250,000 units (each, a "Unit") at a price of $0.20 per Unit for gross proceeds of up to $1,650,000. Each Unit will be comprised of one common share of the Corporation (a "Common Share") and one half warrant (each, a "Warrant"). Each full Warrant will be exercisable into one Common Share for a period of twenty four months from the date of issuance at an exercise price of $0.35 per Common Share.
The proceeds of the private placement will be used for growth and general working capital. The Corporation may pay a finder's fee of cash or securities, to eligible persons, in compliance with applicable securities laws and TSX Venture Exchange ("TSXV") policies. There is no material fact or material change about the Corporation that has not been generally disclosed.
Completion of the private placement is subject to regulatory approval including, but not limited to, the approval of TSXV. The Common Shares issued will be subject to a four month hold period from the date of closing.
CEMATRIX is an Alberta corporation with its head offices in Calgary, Alberta. The Corporation, through its wholly owned subsidiary, is a rapidly growing company that manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations. This unique cement based material with superior thermal protection, delivers a cost-effective, innovative solution to a broad range of problems facing the infrastructure, industrial (including oil and gas) and commercial markets.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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
Jeff Walker, The Howard Group ? Investor Relations
Phone: (888) 221-0915 or (403) 221-0915
Forward-looking information: This news release contains certain information that is forward looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "would" or other similar words). Forward looking statements in this document are intended to provide CEMATRIX security holders and potential investors with information regarding CEMATRIX and its subsidiaries' future financial and operations plans and outlook. All forward looking statements reflect CEMATRIX's beliefs and assumptions based on information available at the time the statements were made. Readers are cautioned not to place undue reliance on this forward looking information. CEMATRIX undertakes no obligation to update or revise forward looking information except as required by law. For additional information on the assumptions made and the risks and uncertainties which may cause actual results to differ from the anticipated results, refer the CEMATRIX's Management Discussion and Analysis dated May 23, 2018 under CEMATRIX's profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.
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