TORONTO, June 24, 2014 /CNW/ - Today Cymat Technologies Ltd. (the
"Company" or "Cymat") announced the effective date for the
consolidation of the Company's Common Shares on a ten old common shares
for one new common share basis (the "Share Consolidation").
Effective at the opening of markets Wednesday, June 25, 2014, Cymat
Common Shares will commence trading on the TSX Venture Exchange on a
consolidated basis under the same stock symbol 'CYM'. The new CUSIP
number is 23257A208. Shareholder approval for the Share Consolidation
was obtained at the Company's Annual and Special Meeting held
on December 19, 2014 and was subsequently approved by the TSX Venture
The Share Consolidation is being undertaken to facilitate a private
placement convertible debenture financing of approximately $1.35M
expected to close in the beginning of July.
Following consolidation Cymat will have 14,407,187 issued and
outstanding Common Shares. The change in the number of issued and
outstanding Common Shares resulting from the Share Consolidation will
not materially affect any shareholder's percentage ownership in the
Company, although their respective ownership will be represented by a
small number of Common Shares. All outstanding incentive stock options
and share purchase warrants will be adjusted accordingly to reflect the
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:
Cymat Technologies Ltd.
Tel: (416) 682-4214