Calgary, Alberta – March 1, 2021: CEMATRIX Corporation (TSXV: CVX) (the “Corporation” or “CEMATRIX”) a North American leading manufacturer and supplier of technologically advanced cellular concrete products announced that its wholly owned operating subsidiaries, which include CEMATRIX (Canada) Inc. (“CCI”), MixOnSite USA Inc. (“MOS”) and Pacific International Grout Company (“PIGCO’) have been awarded $9.9 million in new projects, $1.7 million of which are contracted sales and $8.2 million of which are contracts in process.
Prior to the start of this is year, the Corporation’s Backlog previously included the current year’s sales. Since January 1, 2021, the Corporation’s Backlog is defined as Contracts plus Contracts in Process. Contracts in Process are defined as projects where the related contract is in office for review or signature; or signed and returned to the client for their signature; or is in the post award project submission process; or is awarded by letter of intent; or is awarded by some other form of written communication.
Including the $9.9M in new contracts and contracts in process, the Corporation’s Backlog now totals $89.1 million CDN; $10.6 million of which are Contracts and $78.5 million that are Contracts In Process.
“The majority of the new projects are U.S. based tunnelling and geotechnical projects of varying sizes,” stated Jeff Kendrick, CEMATRIX President and CEO. “Despite a slower than anticipated Canadian market, there are signs that it is beginning to rebound and we expect that Canadian sales will begin to return to pre COVID levels before the end of 2021. U.S. governments are also planning to move $1 trillion of replacement infrastructure projects forward to spur economic activity. Once approved, we anticipate that such initiatives will positively affect the cellular concrete market by the end of the year and for many years to come.”
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 cost-effective, innovative solutions to a broad range of problems facing the infrastructure, industrial (including oil and gas) and commercial markets. Through recent acquisitions of Chicago based MixOnSite and Bellingham based Pacific International Grout, CEMATRIX is now North America’s largest Cellular Concrete company.
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
Glen Akselrod – President, Bristol Capital
Phone: (905) 326 1888 ext 1
Jeff Walker, The Howard Group – Investor Relations
Phone: (888) 221-0915 or (403) 221-0915
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 April 27, 2020 under CEMATRIX’s profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.