CEMATRIX Corporation

March 17, 2010 17:42 ET

CEMATRIX Corporation Announces Appointment of New Director and Grant of Stock Options

CALGARY, ALBERTA--(Marketwire - March 17, 2010) - CEMATRIX Corporation (TSX VENTURE:CVX) (the "Corporation") is pleased to announce that it has, subject to all regulatory approvals, including the approval of the TSX Venture Exchange Inc. (the "Exchange"), appointed Minaz Lalani as a director of the Corporation. Mr. Lalani was previously a director of the Corporation during the Capital Pool Company stage of the Corporation, from March 2005 to April 2006, but had to resign because of other commitments. Mr. Lalani is an actuary and recently retired from Towers Perrin, where he spent 28 years as a principal and consulting actuary. Mr. Lalani has a First Class (Honours) degree in actuarial science from the City University in London, England. He was also the founder and President of Eureka Ventures, a private company, which was involved in funding and establishing of several successful start-up enterprises. Mr Lalani has significant business experience in the energy, utility, insurance, banking, retail, real estate, travel, hospitality, light manufacturing and software industries.

In addition, subject to Exchange approval, the Corporation has agreed to grant stock options (the "Options") to Mr. Lalani enabling him to acquire 150,000 common shares in the capital of the Corporation at an exercise price of $0.30 per common share, for a period of five (5) years from the date of issuance. One third of the Options will vest immediately, with a further one third to vest on the 16th day of March in each of 2011 and 2012.

CEMATRIX is an Alberta corporation with its head office in Calgary, Alberta. The Corporation, through its wholly owned subsidiary, is a manufacturer and supplier of technologically advanced cellular concrete products with applications in a variety of markets, including oil and gas construction and infrastructure construction. Cellular concrete provides a cost and labour saving solution as a replacement for rigid and other insulating materials in frost-susceptible or permafrost conditions. Cellular concrete is also used in void filling situations and as a replacement for granular fills and weak or unstable soils.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.

Contact Information

  • CEMATRIX Corporation
    Jeffrey Kendrick
    President and Chief Executive Officer
    (403) 219-0484
    The Howard Group
    Jeff Walker
    Senior Associate
    (888) 221 0915