TORONTO, March 27, 2013 /CNW/ - Cymat Technologies Ltd. (the "Company" or "Cymat") has been advised that the Toronto Stock Exchange (the "TSX') is reviewing the Common Shares (Symbol: CYM) of the Company with respect to meeting the TSX continued listing requirements. The Company has been granted 120 days in which to regain compliance with these requirements, pursuant to the Remedial Review Process. The Company intends to make a submission to the Continued Listing Committee of the TSX on July 22, 2013 in support of the continuation of Cymat's listing with the TSX. The Company is also investigating listing on the TSX Venture Exchange, subject to the outcome of its submission to the Continued Listing Committee.
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.
The foregoing press release contains forward-looking statements relating to the development of markets, development programs, future revenues and improvements in technology, which are subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include the availability of funding, existing and future relationships with suppliers and manufacturers, the results of research and development activities, risks of technological breakthroughs that make Cymat stabilized aluminum foam less attractive, risks relating to the breadth, scope and enforceability of intellectual property rights, general industry and market conditions, availability of qualified personnel, and reliance on co-development partners. For additional information with respect to these and other factors, see the reports filed by Cymat Technologies Ltd. with the Ontario Securities Commission. Cymat disclaims any intention or obligation to update or revise any forward-looking statements.
SOURCE: Cymat Technologies Ltd.
For further information:
Investors and Media:
Cymat Technologies Ltd.
Tel: (416) 682-4214