CALGARY, ALBERTA--(Marketwired - Nov. 17, 2016) - 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 $2.2 million in additional contracts, bringing this year's contract sales total to $16.0 million. $5.8 million of this total contracted amount is now scheduled to be completed during the first six months of 2017.
"These new contracts support the continued acceptance of CEMATRIX's cellular concrete into the
North American infrastructure market for various construction applications," stated Mr. Kendrick, President and CEO of CEMATRIX. "Of note, the major contract in the new contracts announced is related to a new application that uses CEMATRIX's lightweight cellular concrete to stabilize landslides under existing roadways, resulting in safer roads with extended service lives and reduced maintenance costs. The success of this project could result in significant use of cellular concrete for this new application."
"The majority of the contracted projects to be completed in 2017, represent projects originally scheduled to be completed this fall, but have been delayed due to on site construction issues being experienced by our customers. On a positive note, these delayed infrastructure projects will result in a very strong start to the 2017 year."
CEMATRIX is an Alberta corporation with its head offices in Calgary, Alberta. The Corporation, through its wholly owned subsidiary, is a rapidly growing, cash flow positive 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.
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 3, 2016 under CEMATRIX's profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.