Le Lézard
Subject: PDT

Cymat Announces Purchase Order for Military Underbelly Blast Protection Kits from Asian Military Contractor


MISSISSAUGA, ON, Sept. 20, 2021 /CNW/ - Cymat Technologies Ltd. (TSXV: CYM). Cymat Technologies ("Company" or "Cymat") is pleased to announce the receipt of an order for two underbelly blast protection kits from an Asian military vehicle manufacturer. These kits will be used to complete final product testing by the vehicle manufacturer's customer.

Cymat has been working for several years with this Asian military vehicle manufacturer on the design and development of a retrofit underbelly blast protection kit for the manufacturer's existing family of troop?carrying vehicles. These long-serving vehicles are used by numerous major military organizations around the globe.

The principal purpose of these kits is to protect vehicle occupants from the fatal effects of Improvised Explosive Devices ("IEDs"), or powerful land mines, by absorbing the blast energy generated by the detonation of these devices. Cymat's SmartMetalTM stabilized aluminum foam (SAF) has proven to be particularly effective at absorbing and reducing the energy of the compressed air wave that precedes these explosions. In addition, SmartMetal'sTM exceedingly light weight means that the kits add only minimal weight to the vehicles ? a critical requirment. 

The ultimate destination for these kits is the vehicle manufacturer's domestic military who, in turn, will use two fully retrofitted vehicles for final independent vehicle blast testing, scheduled for early December 2021. Upon the successful completion of these tests, Cymat's customer expects to receive a purchase order for kits to retrofit up to 700 vehicles, with an initial order of 300-400 kits. While final pricing for these kits has not yet been established, Cymat anticipates the potential value of the contract to be in the $5M to $7M range.

Cymat CEO Michael Liik commented, "This opportunity is the culmination of many years of design collaboration and refinement with our customer and we are thrilled to see this project finally move forward. The field data generated by the successful implementation of Cymat's kits will quickly pave the way for our customer to further market these kits to other military organizations. We are especially excited about the potential for the broader adoption of our kits by users of these vehicles worldwide."

Mr Liik added, "After years of developing expertise in vehicle underbelly blast protection, Cymat is finally on the cusp of opening a significant new revenue stream. Success with this contract would give us the credibility needed to substantially expand our opportunities in the military sector."

About Cymat Technologies Ltd.

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 AlusionTM brand and its automotive and military SAF under the SmartMetalTM 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.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. We seek safe harbour.

Neither the Toronto Venture Exchange (TSXV) nor its Market Regulator (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Not intended for distribution to United States Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of United States Securities laws.

SOURCE Cymat Technologies Ltd.



News published on 20 september 2021 at 08:47 and distributed by: