CYMAT Completes Private Placement Financing

About this update from Cymat Technologies Ltd

[{"type":"text","content":"\n\n\n\nListing: TSX\n\n\nSymbol: CYM\n\n\nTORONTO, Nov. 5 /CNW/ - Cymat Technologies Ltd. today announced that it\nhas completed its unsolicited and non-brokered private placement for the\namount of $2,500,000. The company issued a total of 10,000,000 Units\n(comprised of a common share and one half common share warrant) at $0.25 per\nUnit. Frazer Mackenzie acted as our advisor on this transaction.\n\n\nThe warrants expire 18 months from closing of the transaction and have an\nexercise price of $0.35.\n\n\nProceeds from this financing will be used to increase production\ncapacity, reduce order cycle times, hire additional staff to accelerate sales\nand provide general working capital.\n\n\n"In addition to our success with Cymat's Alusion products, demand for our\ntechnology and products in the automotive and blast mitigation sectors has\nstrengthened in the recent past," said Chris Skillen CEO of Cymat." These\nfinancial resources will allow the Company to accelerate business progress\nassociated with its announced strategy of commercializing its technology," he\ncontinued.\n\n\nIn additional news, Cymat and its innovative products were featured in\nThe History Channel's "Modern Marvels Aluminum" production. This production\nwas the result of a full day visit to Cymat's facility in Toronto by their Los\nAngeles producer and crew. This segment has aired many times in the US and is\nexpected to be shown in Canada shortly.\n\n\nCymat develops innovative materials for industry. The Company has\nworldwide rights, through patents and licenses, for producing Stabilized\nAluminum Foam. The ultra-light metallic foam is manufactured by bubbling gas\nthrough molten alloyed aluminum containing a dispersion of fine ceramic\nparticles and can be produced as either Near-net Shapes or Flat Panels. The\nresult is a new strategic material with a wide array of benefits, including a\ngood stiffness-to-weight ratio, mechanical energy absorption at low stress\nlevels, thermal and acoustic insulation, recyclability and relatively low cost\nof production. Cymat is collaborating with a number of partners spanning the\nautomotive, transportation and blast mitigation construction industries.\n\n\nThe foregoing press release contains forward-looking statements relating\nto the development of markets, development programs, fut...

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