World News: 12:55 GMT Wednesday 14th August 2019. [CEMATRIX Corporation via Globe Newswire via SPi World News]
CALGARY, Alberta, Aug. 14, 2019 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (the “” or “”) is pleased to announce that further to its press release dated July 4, 2019, it has completed the first tranche and majority of the $2,300,000 non-brokered private placement for 9,880,000 units (each, a “”) at a price of $0.20 per Unit for gross proceeds of $1,976,000 (the “”). Each Unit is comprised of one common share and share purchase warrant (each a “”). Each Warrant is exercisable into one common share for a period of two years at an exercise price of $0.30 per common share.
Pursuant to the terms of the Private Placement, the Corporation paid a finder’s fee and finder’s warrants of 7% of the gross proceeds to qualified non-related parties that participated. The fees amounted to $137,270 and the Corporation issued 686,350 finder’s warrants that entitle the holder thereof to acquire one common share for $0.30 until the expiry date of August 13, 2021.
The net proceeds of the private placement will be used for general working and growth capital in support the proposed acquisition of Pacific International Grout Company. With all of the elements of the acquisition in place, the Corporation intends to complete the proposed acquisition on or about August 30, 2019.
Completion of the private placement is subject to regulatory approval including, but not limited to, the approval of TSX Venture Exchange Inc. The CEMATRIX Shares issued will be subject to a four month hold period from the date of closing. Following closing of the first tranche of the private placement, the Corporation has 54,380,769 common shares issued and outstanding.
CEMATRIX is a rapidly growing, cash flow positive company that manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America. 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. Through the recent acquisition of Chicago based MixOnSite, CEMATRIX is now North America’s largest Cellular Concrete company.
Jeff Walker, The Howard Group – Investor RelationsPhone: (888) 221-0915 or (403) 221-0915 firstname.lastname@example.org
Globe Newswire: 12:55 GMT Wednesday 14th August 2019
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