TORONTO, July 14, 2017 /CNW/ - Today Cymat Technologies Ltd. (the "Company" or "Cymat") announced, that in compliance with the Company's stock option plan, the Company has granted 2,785,000 incentive stock options to certain of its directors, officers and employees, with each option being exercisable into one common share of Cymat at $0.205 per share until July 13, 2022. The options vest in three tranches over a two year period. The vesting of 878,331 of these options is dependent on the attainment of performance objects for fiscal 2018 and fiscal 2019.
Cymat develops innovative materials for industry. The company has worldwide rights, through patents and licenses, for producing Stabilized Aluminum Foam. The ultra-light metallic foam is manufactured by bubbling gas through molten alloyed aluminum containing a dispersion of fine ceramic particles and can be produced as either Near-net Shapes or Flat Panels. The result is a revolutionary material with a wide array of features including very low density, mechanical energy absorption, thermal and acoustic insulation, is recyclable, time and temperature insensitive and has a relatively low cost of production. Cymat is collaborating with a number of partners spanning the architectural, blast mitigation and automotive industries. For further information, visit the Web site www.cymat.com.
SOURCE Cymat Technologies Ltd.
For further information: Investors and Media: Michael Liik, Executive Chairman, Cymat Technologies Ltd., Tel: (416) 704 - 6217, Email: Liik@cymat.com