CEMATRIX Announces $5.2 Million Increase in Contracts

CALGARY, Alberta, Nov. 15, 2023 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products is pleased to announce that it has signed new contracts and change orders in the amount of $5.2 million, bringing its total contracts announced since the end of the fiscal 2022 year to $57.1 million.

“Our business continues to scale at an accelerating pace, which is a testament to our business development team and the enhanced credibility and success that we have achieved in our market. Many of our projects are from repeat customers who value the experience, capability, and leading technology we bring to each one of our projects,” stated Jeff Kendrick, CEMATRIX President and CEO

“The $5.2 million in contracts includes a $4.3 million overpass/MSE backfill project that was included in our backlog as a Contract in Process, supplemented by several other projects with six figure budgets or less. A portion of the $4.3 million contract will be completed in 2023 with most of this project being completed in the spring of 2024.”

“After the change related to these new contracts, our backlog remains strong at $92.3 million as of November 15^th, 2023. CEMATRIX continues to be on pace to exceed $40 million in sales despite having $13 million of its budget related to the $22 million North Carolina project pushed to 2024.”

ABOUT CEMATRIX

CEMATRIX is a rapidly growing 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, energy and commercial markets. The Company’s wholly owned operating subsidiaries include CEMATRIX (Canada) Inc. (“CCI”), Chicago based MixOnSite USA Inc. (“MOS”) and Bellingham based Pacific International Grout Company (“PIGCO”). This has made CEMATRIX a true leader in North America’s growing Cellular Concrete market.

CEMATRIX’s 2022 investment in Glavel Inc., of Burlington Vermont, a foamed glass manufacturer, has strengthened CEMATRIX’s commitment to the environment in the infrastructure construction space. For more information, please visit our website at www.cematrix.com.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by the Company, including satisfaction of regulatory requirements in various jurisdictions and the Company’s anticipated use of the net proceeds of the Offering. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, which could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements.