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CEMATRIX Corporation Updates Status of Private Placement

News Provided by GlobeNewswire2018-06-26
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CALGARY, Alberta, June 26, 2018 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV:CVX) (the “Corporation” or “CEMATRIX”) announces that further to its press release dated March 8, 2018, it has completed the second and final tranche of a $2,000,000 non-brokered private placement for 277,530 units (each, a “Unit”) at a price of $0.20 per Unit for gross proceeds of $55,506 (the “Private Placement”). Each Unit is comprised of one common share and one-half warrant (each a “Warrant”). Each full warrant is exercisable into one common share for a period of two years at an exercise price of $0.35 per common share. The total for the Private placement was 3,481,130 Units for gross proceeds of $696,226.

Insiders and close relatives of the Corporation participated in $346,220 or (49.72%) of the private placement.

Pursuant to the second tranche, the Corporation paid a finder’s fee and finder’s warrants of 6% of the gross proceeds to qualified non-related parties that participated. The fees amounted to $600 and the Corporation issued 1,500 finder’s warrants that entitle the holder thereof to acquire one common share for $0.35 until the expiry date of June 26, 2020.

Due to the expiration of the Private Placement and in anticipation of additional investment as expressed by certain interested parties, Cematrix will seek approval of the TSX Venture Exchange Inc. (“TSXV”) to initiate a new private placement of up to 7,500,000 Units at a price of $0.20 per Unit for gross proceeds of up to $1,500,000.

The net proceeds of the private placement will be used for general working and growth capital.

Completion of the private placement is subject to regulatory approval including, but not limited to, the approval of TSXV. The CEMATRIX Shares issued will be subject to a four month hold period from the date of closing. Following closing of the second tranche of the private placement, the Corporation has 41,300,545 common shares issued and outstanding.

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. The Corporation is a reporting issuer in the provinces of British Columbia and Alberta.

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
jeff@howardgroupinc.com

This news release contains forward-looking information within the meaning of applicable securities laws relating to the Private Placement and the use of proceeds of the Private Placement. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation, its securities, or its respective financial or operating results.

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 28, 2018 under CEMATRIX’s profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.



© 2018 GlobeNewswire, Inc. All Rights Reserved.

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The news, reports, views and opinions of authors (or source) expressed are their own and do not necessarily represent the views of CRWE World.


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