News Releases

Cymat Announces Additions to Management and Sales Team and Updates Progress on Plant Upgrade

Mississauga, Ontario

November 29, 2021 – Mississauga, Ontario – Cymat Technologies Ltd. (TSXV: CYM) (the “Company” or “Cymat”) is pleased to announce the appointment of Vince Benincasa as its new Chief Commercial Officer (CCO) and David Henry as its Head of U.S. Business Development.

Vince Benincasa is a seasoned executive with over 34 years of experience with a global auto parts conglomorate. Vince brings to Cymat an extensive background in sales and general management spanning the automotive, specialtlty chemical and engineered materials sectors. Most recently, he was the GM of a global business unit that provides proprietary chemicals principally to the automotive industry. Vince will be responsible for overseeing all of Cymat’s commercial activities including Alusion™, SmartMetal™ and its sandwich panel venture with Alucoil in Spain.

David Henry, a senior, US-based sales executive, has built a 35 year career with a global auto parts conglomorate. Over the last 15 years, David was responsible for building and leading high-performing global sales and marketing teams in the automotive sector. Most recently, he was the Executive Director of Sales responsible for spearheading his company’s sales initiatives into the electrice vehicle (“EV”) market, with particular emphasis on developing relationships with the new EV car makers (“OEMs”). David will be responsible for driving both Cymat’s sales initiatives with these new EV OEMs as well as expanding Cymat’s Alusion™ sales network in the US.

Also, Cymat has hired two additional engineers to provide technical sales support, supplement increased production activity, and support plant expansion and upgrading initiatives.

Michael Liik, CEO, commented, “Cymat is experiencing significant growth in Alusion™, its architectural products division, and expects to see material expansion in SmartMetal™ sales, its automotive, military and industrial products division. With this expansion, the Company is now at a juncture where it needs to increase senior management, sales and technical teams to ensure that it can effectively execute on all of these initiatvies.” “We are pleased to be able to benefit from Vinces’s diverse sales and general management experience to drive overall sales growth of the Company. We are also excited to be able to capitalize on David’s recent success in developing significant new business in the EV sector, where Cymat believes that it can achive its most significant automotive penetration.” further commented Mr. Liik.

Cymat previously announced a major capital investment program to upgrade and expand production in its current Missisauga, Ontario facility. Over the last three months, Mario DeAngelis, Cymat’s new COO, completed an extensive report on plant optimization. Cymat is pleased to announce that it has begun to implement these recommendations and expects to phase in plant upgrades, as well as capacity and efficiency initiatives, over the next 12 to 18 months. Once completed, annual production capacity will increase by approximately 50% to $75M, and Cymat will minimize production downtime while increasing manufacturing efficiency.

“It’s been a long road for us to get here and I am excited to see that the years of hard work and product development are finally coming to fruition, “ Mr. Liik stated. “As we see continued sales growth and penetration into our chosen verticals, Cymat will be well positioned to effectively execute in timely manner.”

About Cymat:

Cymat Technologies Ltd. is an innovative materials technology company employing a proprietary process to manufacture our unique Stabilized Aluminum Foam (“SAF”). Cymat SAF is an advanced lightweight recyclable material with a wide array of features including customizable density and dimensions, energy absorption and thermal and acoustic insulation. Cymat is focused on producing SAF for architecture, blast mitigation, automotive, transportation and industrial markets. Cymat’s architectural brand, Alusion™, has become an accepted choice for superior and unique cladding and façade alternatives for the building industry. The Alusion™ brand is recognized globally, having completed projects on almost every continent.

Cymat’s SmartMetal™ division has developed proven products for energy absorption applications including blast mitigation for the military sector and impact reduction for the nuclear energy sector. Cymat is working with numerous manufacturers and solution providers around the world for the integration of SmartMetal™ into kinetic energy management systems. Cymat is based in Mississauga, just outside Toronto, where it operates a 2.400 sq. metre plant. For further information on Cymat, please visit our Web site www.cymat.com.

For further information: please contact:

Investors and Media:

Michael Liik, CEO
Cymat Technologies Ltd
416-704-6217
liik@cymat.com

Investor Cubed Inc.:
Neil Simon, CEO
647-258-3310
nsimon@investor3.ca