Long-Term Marketing And Supply Agreement Between Argex Titanium Inc. And Helm U.S. Corp.

Montreal, Quebec/Piscataway, NJ – August 26, 2014 – Argex Titanium Inc. (TSX: RGX) and Helm U.S. Corp., a wholly-owned subsidiary of German-based HELM AG, today jointly announced that they have entered into an exclusive long-term marketing and supply agreement for the distribution of Titanium Dioxide (TiO2) in the US and Canada.

Under this agreement, HELM U.S. will exclusively market and distribute fifty percent (50%), up to 25,000 metric tons per year, of TiO2 produced from Argex’s first industrial-sized plant to be located in Salaberry-de-Valleyfied, Québec. The agreement is for a period of seven years, commencing when the plant reaches a certain  capacity  which  is  currently  expected  to  take place in the first quarter of 2017.

“This agreement combined with the supply agreement with PPG Industries, Inc. commits a significant quantity of the available capacity of Argex’s first full scale titanium dioxide production plant,” said Roy Bonnell, president and chief executive officer of Argex Titanium Inc. “This is a significant step for Argex. It demonstrates confidence in the scalability of our technology and in our ability to partner with world-class leaders in the industry.”

“We are extremely pleased to be able to secure an additional supply of high quality titanium dioxide for our customers and add another milestone to the development of  our  distribution network in North America,” said Philipp Mangold, president of HELM U.S. Corp. “This is a very exciting opportunity and we recognize the potential effect Argex’s next generation process will have on the titanium dioxide industry.”

About Helm AG

HELM AG is a multi-functional marketing organization in the chemical sector, situated in Hamburg, Germany. The family owned company was founded in 1900 and has developed into one of the world’s major independent chemicals marketing companies. HELM AG operates in more than 30 countries around the world, with  revenue  in  2013  of  approximately  EURO  10 billion. Its specific local and regional knowledge guarantees access to the major markets worldwide.

For More Information about HELM:

Annegret Dehning, Executive Manager Administration / Public Relations,
HELM AG, Hamburg
a.dehning@helmag.com,
+49 (0) 40 23 75 18 20

About Argex Titanium Inc.

Argex Titanium Inc. has developed an advanced chemical process for the volume production of high grade titanium dioxide (TiO2) for use in high quality paint, plastics, cosmetics and other applications. The company’s unique proprietary process takes  relatively  inexpensive  and plentiful source material from a variety of potential vendors, and produces TiO2 along with other valuable by-products. Argex’s process provides a significant cost and environmental advantage over current legacy TiO2 production methods. The company’s  primary  near  term  goal  is  to rapidly advance toward a 50,000 tonne per annum production module as a first step in its goal to transform the 5.2 million tonne per annum TiO2 industry.

For More Information about Argex:

Roy Bonnell, President and Chief Executive Officer
Argex Titanium Inc.
514 843-5959
roy.bonnell@argex.ca

INVESTOR  RELATIONS:

Sophy Cesar, Manager, Investor Relations
Corporate  Communications
Argex Titanium Inc
514-843-5959 Ext. 128
sophy.cesar@argex.ca

Dave Burwell
The Howard Group
1-888-221-0915
dave@howardgroupinc.com

U.S. INVESTOR RELATIONS:
Liolios Group Inc.
Chris Tyson
949-574-3860
RGX@liolios.com

Forward-Looking Statements
This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of Argex, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Argex will derive. Forward-looking statements and information are based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Argex’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in Argex’s Annual Information Form for the fiscal year ended December 31, 2013, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. Argex does not intend, nor does Argex undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

 

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

FLYHT Announces Resignation of Director

Calgary, Alberta – August 20, 2014 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced that Mr. Richard Hayden has resigned his position as a member of the Company’s board, effective August 19, 2014.  Mr. Hayden will remain with the Company as Director of Strategic Programs and will work with government and industry groups to ensure FLYHT stays in the forefront of discussions regarding global implementation of enhanced aircraft tracking and triggered data streaming, as well as leading efforts to secure several key programs.

Bill Tempany, CEO stated, “FLYHT has evolved over the eight years from an R&D Company to a growth business currently building momentum in the aviation industry and Dick has played an important part in shaping the company we have today.  We look forward to Dick’s continued contribution, as it is an essential part of our business.  We are confident that Dick’s drive, determination, tenacity and contacts will ensure the best outcome for FLYHT and our shareholders.”

Dick Hayden commented, “When I first was introduced to FLYHT in 2005, I immediately recognized the potential of the integrated aircraft-to-end-user system that FLYHT had conceived and was evolving. I was pleased to join the company in 2008 and be part of the team that has evolved AFIRS and UpTime to its current industry-leading state. I look forward to continuing to contribute to FLYHT’s growth.”

About FLYHT Aerospace Solutions Ltd.

FLYHT provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS™ UpTime™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real time. If an aircraft encounters an emergency, FLYHT’s triggered data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The Dragon is FLYHT’s latest product, a revolutionary light weight portable satellite communications device that blends existing FLYHT technology with that of the iPad.

AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

Contact Information 

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
Chief Financial Officer
403-291-7427
tfrench@flyht.com

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Bristol Institutional Relations
Glen Akselrod
President
(905) 326–1888
glen@bristolir.com

Kin Communications Inc.
Fred Leigh
(866) or (604) 684-6730
FLY@kincommunications.com

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Neither the 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.

John Belcher Appointed to the Board of Directors of FLYHT Aerospace Solutions Ltd.

FLY 140820 J_Belcher

Calgary, Alberta – August 20, 2014 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is very pleased to announce that the board of directors of FLYHT have appointed Mr. John Belcher as a director of the Company, effective August 19, 2014. Mr. Belcher was formerly Chairman and Chief Executive Officer of ARINC Incorporated (“ARINC”). He joined ARINC in 1997 and grew it from a $200M business to a billion dollar global company with services in over 150 counties and orchestrated its sale twice during his tenure. Mr. Belcher currently serves on several other boards around the world and is a leading authority in aviation and air transport.

Mr. Belcher is deeply involved in his industry and community and is a very welcome addition to FLYHT’s board of directors as the Company expands globally in the aviation industry. Mr. Belcher’s prior experience includes positions as President and CEO, Hughes Aircraft of Canada, Ltd.; Vice President Hughes Aircraft Company; President and CEO, Thompson-Hickling Aviation; Senior Vice President, SPAR/PRIOR Data Sciences; Executive Director, Transport Canada; and Director General, Supply and Services Canada.

Bill Tempany, CEO of FLYHT stated, “We were delighted when John accepted a position on our board to help steer the Company through what we expect to be a strong growth phase. John’s success with ARINC, his Canadian roots and prior work with Transport Canada and as CEO of Hughes Aircraft of Canada gives him a unique understanding of the challenges businesses like ours face in managing commercial goals in a very rigid regulatory environment. The contacts and knowledge John will contribute to our board of directors will bring invaluable insight and experience that management and our employees will benefit from and help us further drive the success of our growing business collectively.”

Mr. Belcher stated, “Technology has been my passion throughout my career and when I was offered a position on the board of FLYHT, it was its industry leading technology that piqued my interest. Aviation needs to move faster in the adoption of new technologies and I see FLYHT as a front runner in that change. I am looking forward to an exciting adventure with FLYHT as its technologies are rolled out globally. “

John presently serves on seven other boards including LandMark Aviation, Signalhorn, NanoVapor, Anne Arundel Health System, World Trade Center Institute, Governor’s Work Force Investment Board, and Cyber Reliant.

He has also received many business leadership awards including the Canadian National Transportation Award.

As part of his appointment to FLYHT’s board of directors Mr. Belcher will be granted incentive stock options of the Corporation for a total of 75,000 common shares of the Corporation at a price of $0.40 per share for a period of three years, under the formal stock option plan approved at the Annual General Meeting held in June 2014, subject to regulatory approval. A maximum of 10% of the issued shares are reserved for issuance for the Corporation’s Stock Option Policy. The options vest immediately and are subject to a four month hold period.

This director appointment is made subject to the final approval of the TSX Venture Exchange.

 

About FLYHT Aerospace Solutions Ltd.
FLYHT provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS™ UpTime™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real time. If an aircraft encounters an emergency, FLYHT’s triggered data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The Dragon is FLYHT’s latest product, a revolutionary light weight portable satellite communications device that blends existing FLYHT technology with that of the iPad.

AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

 

Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
Chief Financial Officer
403-291-7427
tfrench@flyht.com

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Bristol Institutional Relations
Glen Akselrod
President
(905) 326–1888
glen@bristolir.com

Kin Communications Inc.
Fred Leigh
(866) or (604) 684-6730
FLY@kincommunications.com


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www.flyht.com

Neither the 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

Barry Eccleston Appointed to the Board of Directors of FLYHT Aerospace Solutions Ltd.

FLY 140820 B_Eccleston

Calgary, Alberta – August 20, 2014 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is very pleased to announce that the board of directors of FLYHT have appointed Mr. Barry Eccleston as a director of the Company, effective August 19, 2014.  Mr. Eccleston is President of Airbus Americas, Inc.

Mr. Eccleston currently oversees all efforts of Airbus in North America. He joined Airbus from Honeywell where he served as Vice President in different departments and global regions with responsibility for the $1.4 billion business aviation, turboprop, regional fan and military engine businesses. Prior to that, he held increasingly senior positions with Rolls-Royce for 29-years, culminating as President and CEO Rolls-Royce Canada and President and CEO of International Aero Engines, in which Rolls-Royce was a major shareholder.

Bill Tempany, CEO stated, “We are very excited to have a person of Barry’s caliber join our Board at this important time in FLYHT’s evolution. The Company is entering a growth phase, and we are confident his contribution will be significant to our success in the coming years. We have worked for years to develop technologies to help the aviation industry improve its financial performance and – with the guidance of our new board members – we hope to increase the adoption rate of our technologies.”

Mr Eccleston commented, “The aviation industry needs to embrace beneficial new technologies and I believe that FLYHT’s Automated Flight Information Reporting System (“AFIRS”) and related products are at the forefront of this movement. I have been impressed with FLYHT’s technology since I first saw it and I am convinced that AFIRS will help all facets of aviation by improving performance, enhancing efficiency and allowing an already extremely safe industry, to become even safer. I joined the board to help FLYHT continue to drive utilization of its industry leading technologies and to give back to an industry that has been good to me throughout my career.”

Mr. Eccleston holds a bachelor’s degree in aeronautical engineering from Loughborough University and completed the International Executive program at the Institute of Management Development, Switzerland.

Barry is a private pilot, he has served as Chairman of the Washington, D.C. branch of the RAeS, and is a past member of the Flight Safety Foundation Board of Governors.  He is currently President of The Wings Club, and was a member of NBAA’s Associate Member Advisory Council, and IS a member of the British-American Business Association Board of Directors.

As part of his appointment to FLYHT’s board of directors Mr. Eccleston will be granted incentive stock options of the Corporation for a total of 75,000 common shares of the Corporation at a price of $0.40 per share for a period of three years, under the formal stock option plan approved at the Annual General Meeting held in June 2014, subject to regulatory approval. A maximum of 10% of the issued shares are reserved for issuance for the Corporation’s Stock Option Policy. The options vest immediately and are subject to a four month hold period.

This director appointment is made subject to the final approval of the TSX Venture Exchange.

About FLYHT Aerospace Solutions Ltd.
FLYHT provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS™ UpTime™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real time. If an aircraft encounters an emergency, FLYHT’s triggered data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The Dragon is FLYHT’s latest product, a revolutionary light weight portable satellite communications device that blends existing FLYHT technology with that of the iPad.

AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

Contact Information 

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
Chief Financial Officer
403-291-7427
tfrench@flyht.com

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Bristol Institutional Relations
Glen Akselrod
President
(905) 326–1888
glen@bristolir.com

Kin Communications Inc.
Fred Leigh
(866) or (604) 684-6730
FLY@kincommunications.com

Join us on social media!
www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.flyht.com

Neither the 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.

FLYHT Q2 Conference Call – CEO Expects Strong Second Half

FLY:TSX-V

On this morning’s FLYHT second quarter conference call, CEO Bill Tempany addressed a number of topics and questions around the release of Q2 financials and business activities. Right out of the gate, Mr. Tempany commented on the weakness in revenues experienced in Q2. Quarterly revenue was $1.5 million, down 30% from last year’s Q2 results of $2.2 million. The company however, is ahead of Q1, which would indicate it is headed in the right direction. Recurring revenues increased slightly to ~$893,000 from last year’s ~$846,000 and it was explained that this should improve in Q3 as customers that had been shut off due to nonpayment have restarted and a customer in the middle of a fleet switch is up and running again.

Mr. Tempany noted that in Q2/2013, the company recognized significant orders from First Air and NetJets, which accounted for the strong second quarter in 2013. He emphasized that the third and fourth quarter of this year are looking to be very strong as the company has shipped more AFIRS units in July than in the entire second quarter.

Throughout the call, Mr. Tempany addressed a number of other items:

  • He believes FLYHT is on track to be operations positive (EBITDA with IR and share based compensation removed) by the end of 2014.
  • The company has approximately $5 million in modified working capital.
  • The settlement with Sierra Nevada Corporation (SNC) has allowed the company to eliminate nearly $2 million in debt. The SNC relationship opened a new market to FLYHT. SNC will lead sales in the United States and NATO military and government manned and unmanned aircraft markets.
  • An initial regulatory report on aircraft tracking by the International Civil Aviation Organization is anticipated in late September and FLYHT will ensure it meets regulatory requirements as they are developed.
  • On the sales front, there has been a great deal of activity in Asia. The company has hired a Singapore based sales person based on identified opportunities in the region. FLYHT is planning to add one or two full time sales positions.
  • The company is in discussions with Bombardier and other OEM’s with the objective of having AFIRS become a standard feature on aircraft.
  • Mr. Tempany expressed that although its L-3 relationship has been successful and a good one, he believes that FLYHT does not require a third party to gain direct access to manufacturers. He is confident that the company is at the point where it can have those conversations directly with the manufacturers.
  • When asked about progress in China, Mr. Tempany stated that FLYHT has already shipped 50 units and that the Company is the only certified Iridium provider in China.
  • The company in Q2 launched FLYHTSafe, a new safety notification solution. Investors should expect to see more service add-ons being launched in Q3 & Q4, which will improve efficiencies and communications for aircraft and allow FLYHT to earn additional usage fees.
  • In regards to the increase in expenses, it was explained that there will be a continuation of Investor Relations efforts focusing on U.S. and International investors and the company has experienced an increase in travel expenses as a result of ensuring that FLYHT has a presence at all the industry related meetings. Also, the reported R&D spending is a result of the continuation of securing AFIRS 228 Supplemental Type Certifications, which will continue for at least three years.

To listen to the conference call, please click here.

FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) Schedules Second Quarter Conference Call

CALGARY, ALBERTA–(Marketwired – Aug. 6, 2014) – FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY)(OTCQX:FLYLF) (the “Company” or “FLYHT”) has scheduled a live conference call to discuss the first quarter results to be held, Wednesday, August 13, 2014 at 9 am MDT (11 am EDT, 8 am PDT).

The conference call will include a brief presentation about FLYHT’s second quarter results and then a question and answer period with management.

To access the conference call by phone within Canada and the U.S. the toll-free number is 1-800-319-4610. Outside Canada and the U.S., dial 1-604-638-5340. (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail. Individuals wishing to ask a question during the call, can do so by pressing *1. Also, you can email questions in advance or during the conference call to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider. http://flyht.com/investors/videos/

About FLYHT Aerospace Solutions Ltd.

FLYHT provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS™ UpTime™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real time. If an aircraft encounters an emergency, FLYHT’s triggered data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The Dragon is FLYHT’s latest product, a revolutionary light weight portable satellite communications device that blends existing FLYHT technology with that of the iPad.

AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
Chief Financial Officer
403-291-7427
tfrench@flyht.com

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Bristol Institutional Relations
Glen Akselrod
President
(905) 326–1888
glen@bristolir.com

Kin Communications Inc.
Fred Leigh
(866) or (604) 684-6730
FLY@kincommunications.com

Join us on social media!
www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.flyht.com

Neither the 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.

CEMATRIX Corporation Announces $1.8 Million of New Contracts

Calgary, Alberta – August 12, 2014: CEMATRIX Corporation (TSXV: CVX) (the “Corporation” or the “Company” or “CEMATRIX”) is pleased to announce that its wholly owned subsidiary, CEMATRIX (Canada) Inc. has received signed orders for infrastructure projects in the amount of $1.8 million in aggregate, bringing this year’s total contracted work to $6.3 million.

“These new contracts are infrastructure in nature and relate to projects in Canada and the United States, which highlights the continued acceptance for the Company’s cellular concrete for various types of infrastructure applications,” stated Jeff Kendrick, CEMATRIX President and CEO.

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.

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

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

CEMATRIX Corporation Reports Second Quarter Financial Results

Calgary, Alberta – August 7, 2014: CEMATRIX Corporation (TSXV: CVX) (the “Corporation” or the “Company” or “CEMATRIX”) announces the release of its consolidated financial results for the quarter and six months ended June 30, 2014.

Second Quarter Highlights
The Company recorded second quarter sales of $3,070,504, a 10% increase from the same period in 2013.
The Company reported second quarter income before income taxes of $139,980 as compared to $140,784 for the same period in 2013. The improved margin due to the sales increase was reduced by the impact of hiring and training additional operating staff in anticipation of increased activity in the second half of the year. In addition finance costs increased due to higher debt levels to support the increase in working capital and to finance the spending on equipment to expand productive capacity.
The Company added $1.3 million of sales orders bringing the total contracted work, which is currently completed or is scheduled for completion, in 2014, to $4.5 million.

Financial Results
Selected financial information for the quarters and six months ended June 30, 2014 and 2013 is as follows:

CVX_140807_NR_FinancialTable

The outlook for 2014 remains positive. Management is forecasting growth in Canadian and U.S. infrastructure sales in the second half of the year and continued growth in the Western Canada oil and gas sector. The Company has put in place $4.5 million of contracted work for completion in 2014 and in addition has also placed numerous bids on other projects currently scheduled to be completed in 2014 and 2015, but is unable to ascertain at this time how many of these projects, if any, will result in 2014 contracted work for the Company.

This press release should be read in conjunction with the Corporation’s unaudited Consolidated Financial Statements and Management Discussion and Analysis for the quarter and six months ended June 30, 2014, both of which can be found on SEDAR.

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 nfrastructure 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 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.

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

 

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

CEMATRIX Releases Q2 Results

CEMATRIX released its second quarter financial results this morning for the period ending June 30, 2014. Sales increased 10% over last year, reaching $3,070,504 with gross margin also slightly up over the same period year over year. Over the second quarter, the company added $1.3 million of sales orders bringing the annual amount of work under contract for 2014 to $4.5 million.

The six month reporting compared to last year saw net revenue decrease by roughly $1.5 million. This decrease can be attributed to an extraordinary Q1/13 that saw a number of 2012 projects extended into and completed in the new year.

The release also highlights management’s positive outlook for the rest of 2014, citing anticipated growth in Canadian and U.S. infrastructure sales as well as continued growth in the Western Canada oil and gas sector. In addition to the $4.5 million of work contracted for 2014, numerous other bids have been placed on projects that, if won, will result in additional work to be completed in 2014.

To view CEMATRIX’s news release, please click here.

– Brad Dryer
Jeff Walker