CEMATRIX Corporation
TSX VENTURE : CVX

CEMATRIX Corporation

November 07, 2014 09:25 ET

CEMATRIX Corporation Secures $1.6 Million in Additional Contracts

CALGARY, ALBERTA--(Marketwired - Nov. 7, 2014) - CEMATRIX Corporation (TSX VENTURE:CVX) (the "Corporation" or the "Company" or "CEMATRIX") is pleased to announce that its wholly owned subsidiary, CEMATRIX (Canada) Inc. has secured another $1.6 million in contracts in aggregate for oil sands and refinery and infrastructure projects. This year's total contracted work is now a record $17.3 million. Although the new contracts are scheduled to be completed in 2014, some of the work related to the previous contracts has shifted into 2015. Accordingly, $9.4 million of this contracted work is scheduled for completion in 2014, $6.9 million in 2015 and $1.0 million in 2016.

"CEMATRIX continues to achieve record sales and to see a steady growth in both oil sands, refinery and infrastructure type work. Our greatest challenge right now is in completing the work that we have contracted for 2014. We are currently scheduled to produce and place up to sixty percent of our volume for the year in the last quarter. Fortunately our management and operations team were prepared for the increased quarterly production requirements and are well underway to achieving our goal," stated Jeff Kendrick, President of CEMATRIX.

CEMATRIX is an Alberta corporation with its head offices 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 for various construction applications. Applications for cellular concrete include tunnel grouting; bridge abutment and retaining wall backfill; insulation of shallow utilities, roads and runways; insulation and/or structural foundations for tank bases and facilities; and as a floating base over weak and unstable or seismic prone soils, for roads and other types of infrastructure.

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

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 August 6, 2014 under CEMATRIX's profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.

Contact Information

  • CEMATRIX Corporation
    Jeff Kendrick
    President and Chief Executive Officer
    (403) 219-0484

    The Howard Group
    Jeff Walker
    Investor Relations
    (888) 221-0915 or (403) 221-0915
    jeff@howardgroupinc.com

    The Howard Group
    Brad Dryer
    Investor Relations
    (888) 221-0915 or (403) 221-0915
    brad@howardgroupinc.com