CEMATRIX Announces Closing of $23 Million of Public Offering of Units Co-Led by Gravitas Securities and Clarus Securities

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CALGARY, Alberta, March 18, 2021 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) ("CEMATRIX" or the "Company") is pleased to announce the closing of its marketed public offering (the “Offering”) of 35,384,600 units (the "Units") at a price of $0.65 per Unit of the Company for aggregate gross proceeds of $22,999,990, which includes the partial exercise of the agents' over-allotment option. Each Unit consist of one common share of the Company (each a "Common Share") and one-half of one common share purchase warrant (each full warrant, a "Warrant"). Each Warrant will be exercisable for one Common Share at a price of $0.81, for a period of 24 months following closing of the Offering.

The net proceeds from the Offering will be used to fund future acquisitions, new equipment and personnel to support regional expansion, and general working capital including repayment of debt.

The Company’s final short form prospectus for the Offering dated March 15, 2021 (the “Prospectus”) was filed with the securities commissions in each of Alberta, Ontario, British Columbia, Saskatchewan and Manitoba. The Prospectus incorporates by reference important information about the securities that were offered, and copies of the agency agreement and Prospectus are available on the Company’s profile at www.sedar.com.

The Offering was conducted on a commercially reasonable efforts agency basis by a syndicate of agents led by Gravitas Securities Inc. and Clarus Securities Inc., as co-lead agents (the “Lead Agents”) and bookrunners, on behalf of a syndicate of agents (collectively, the "Agents"). ​

As consideration for their services, the Company paid the Agents a cash commission of $1,609,999 and issued 2,830,768 warrants of the Company (the “Broker Warrants”) to the Agents equal to 8% of the number of Units issued under the Offering. Each Broker Warrant entitles the holder thereof to acquire one Unit of the Company at $0.65 until March 18, 2023. Additionally, the Lead Agents were paid a corporate finance fee satisfied by the issuance of 1,415,384 Units. In connection with the closing of the Offering, and as further disclosed above, the Agents partially exercised their over-allotment option, pursuant to which the Company issued 4,615,369 Units.