Business
/C O R R E C T I O N from Source - Cymat Technologies Ltd./
/C O R R E C T I O N from Source - Cymat Technologies Ltd./.
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n\n\n\n\nIn c4388 sent at 11:24e today, the second bullet point has been corrected\nto read \"In addition to the above the shares of Cymat Corp. were\nconsolidated on the basis of one new share of Cymat Corp. for each 36\nshares.\" rather than \"In addition to the above the shares of Cymat\nTechnologies Ltd. were consolidated on the basis of one new share of\nCymat Technologies Ltd. for each 36 shares.\". Full corrected copy\nfollows:\n\n\nCymat Technologies Ltd. announces completion of reorganization and\nnon-dilutive financing\n\nListing: TSX\nSymbol: CYM\n\nTORONTO, Aug. 9 /CNW/ - Cymat Technologies Ltd (TSX: CYM), announced\ntoday that it had completed the previously announced reorganization of its\noperations which has resulted in a non-dilutive capital injection of\napproximately $1.8 million. The steps involved in the reorganization are as\nfollows:\n\n>\n\nCymat Technologies Ltd. is pleased that it has completed this transaction\nand is appreciative of the hard work of those involved and support of its\nsecurity holders\" said Chris Skillen. \"I would be remiss not to thank our\nemployees and suppliers who also worked diligently during this uncertain time\nfor the company\" he continued.\n\nThe Company now has financial resources that will allow it to continue\noperations expand some of its production capability to meet orders and will\nfocus on short-term revenue opportunities as well as those on the longer term\nin the automotive sector. \"There has been important interest in our current\nproducts in the last few months and there is a good possibility that we will\nbe able to increase sales this year\". Chris Skillen said.\n\nAbout Cymat Technologies Ltd.\n------------------------\n\nCymat Technologies Ltd. (the \"Company\") develops innovative materials for\nindustry. The Company has exclusive worldwide rights to produce Stabilized\nAluminum Foam. The ultra-light metallic foam is manufactured by injecting gas\nin a controlled manner into molten aluminum containing ceramic particles and\ncan be produced as either Near-net Shapes or Flat Panels. The result is a new\nstrategic material with a wide array of benefits, including low cost,\nexcellent impact energy absorption, excellent stiffness-to-weight ratio, radio\nfrequency and acoustic insulation. Cymat Technologies Ltd. is collaborating\nwith a number of partners spa...