CYMAT Reports Q2 2019 Results

Listing: TSX-V
Symbol: CYM

TORONTO, Dec. 13, 2018 /CNW/ - Today, Cymat Technologies Ltd. ("Cymat" or the "Company") reported the results for its second quarter of fiscal 2019, ended October 31, 2018.

Q2 Highlights

Highlights for the second quarter include:

• Revenue for the quarter was $1,030,000. Quarterly revenue from Alusion^TM, Cymat's architectural products, was $918,000. Revenue from SmartMetal^TM, the Company's energy absorption material, was $112,000 for the quarter.
  
  
• Issued 675,000 common shares as the result of the exercise of $0.25 warrants.

Select financial information for the three and six months ended October 31, 2018 and October 31, 2017 is as follows:

	Three Months Ended October 31		Six Months Ended October 31
	2018	2017	2018	2017
	($)	($)	($)	($)
Interim Statements of Operations
Revenue	1,030,169	381,303	1,421,586	948,347
Plant operating expenses	692,878	354,271	1,077,921	674,608
Research and material testing expense	53,177	11,058	118,629	11,880
Selling, general and administrative expenses	367,987	411,551	767,621	948,854
Loss from operations	(83,873)	(395,577)	(542,585)	(686,995)
Net loss	(136,418)	(389,422)	(625,670)	(836,438)
Cash used in operating activities	(152,351)	(335,940)	(374,761)	(715,627)

The Company expects Alusion^TM sales to remain the largest source of revenue growth for the balance of Cymat's fiscal year. 

"We are pleased with the results generated by our new Chinese and South Korean sales channels," said Michael Liik, Cymat's Executive Chairman.   "We expect that Cymat's expansion into these two Asian markets coupled with our growing pipeline of façade projects will continue drive growth for the Alusion brand."

About Cymat:

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 either continuously produced in flat panels or as near-net shapes. 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.

Investors and Media: Michael Liik, Executive Chairman, Cell: (416) 704 - 6217, Cymat Technologies Ltd., Email: [email protected]