April 3, 2024 – Mississauga, Ontario – Cymat Technologies Ltd. (TSXV: CYM; OTCQB: CYMHF) (the “Company” or “Cymat“) is pleased to announce its first commercial order for SmartMetal™ Stabilized Aluminum Foam (“SAF”) cylinders, to be used in non-lethal bullets, from their customer Nobel Sport. Nobel Sport is a French-based law enforcement specialty manufacturer of a wide range of ammunition and ancillary products for sport, law enforcement and military customers. This first order, destined for the French Armed Forces, is for 21,000 cylinders with a contract value of approximately $200,000.
Cymat previously issued a press release on November 25, 2019, announcing that the French Armed Forces had certified the use of non-lethal bullets utilizing Cymat’s SmartMetal™. Rigorous testing of these bullets had determined them to be safer, more accurate and less harmful compared to current products in the market.
Non-lethal bullets are primarily used for crowd control and as a deterrent in both civilian and military situations where less-than-lethal force is determined to be the best course of action. While rubber bulletshave traditionally been used in these situations, there have been numerous instances where their use has resulted in serious physical harm and fatalities. As such, there is significant interest by law enforcement agencies and military forces around the world to find a suitable replacement.
Cymat is also pleased to report that its order backlog for Alusion™, its architectural and design product, has grown to over $2M. The company is particularly pleased that the order book is geographically diversified, indicating that weakness in global construction markets, caused largely by significant cost inflation, has begun to abate. As well, Cymat’s Chinese distributor has begun restocking after a lengthy hiatus.
Michael Liik, Cymat’s CEO, stated, “We are excited to receive our first commercial order for non-lethal bullet cylinders from Nobel Sport, an established leader in their field. This represents a large market opportunity for Cymat and a potentially substantial new revenue stream.” He added, “The dramatic turn around in Alusion™ sales, after an unprecedented six-month lull, is very gratifying. The combination of a strong sales pipeline and continued robust quoting activity bodes well for the continued recovery and growth in Alusion™ sales.”
About Cymat Technologies Ltd.
Cymat Technologies Ltd. has the global rights, through patents and established know-how, to manufacture and sell Stabilized Aluminum Foam (“SAF”), a unique, ultra-light, cellular metallic material. The proprietary production process entails the injection of gases through a molten bath of alloyed aluminum infused with ceramic particles. The result is an advanced, lightweight, recyclable material that exhibits unique characteristics including customizable density and dimensions; mechanical energy absorption; thermal and acoustic insulation; and time, temperature and strain-rate insensitivity. A key benefit of this continuous foam production process is its scalability and resultant low cost of production. SAF is used in such industries as architectural design, military and automotive. Cymat markets its architectural SAF under the Alusion™ brand and its automotive and military SAF under the SmartMetal™ brand. For further information, please visit our website at www.cymat.com.
Company Contact:
Michael Liik CEO
Email: liik@cymat.com
Telephone: (416) 704-6217
Website: www.cymat.com
For further information please contact:
Investor Cubed Inc.
Neil Simon, CEO
Email: nsimon@investor3.ca
Telephone: (647) 258-3310
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company’s annual and quarterly management’s discussion and analysis filed at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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