CEMATRIX Corporation Announces Appointment of Directors

CALGARY, Alberta, Dec. 10, 2020 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (the “Corporation”) is pleased to announce that, at the annual and special meeting of shareholders of the Corporation held on December 9, 2020 (the “AGM”), the following persons have been elected to serve on the board of directors of the Corporation: Jeffrey Kendrick, Robert L. Benson, Steve Bjornson, Patrick N. Breen, Dan Koyich and Minaz Lalani.

At the AGM, the Corporation received disinterested shareholder approval for the Corporation’s new Omnibus Equity Incentive Plan (the “Plan”) which replaces the existing rolling stock option plan of the Corporation.

The Plan includes a rolling stock option plan that provides for the grant of stock options ("Stock Options") and a fixed restricted share unit plan that provides for the grant of restricted share units ("RSUs"). Under the Plan, these awards are available to employees, employees of a person or company which provides management services to the Corporation, consultants, and directors of the Corporation.

The maximum number of Common Shares which may be reserved and set aside for issuance upon the grant of stock options under the Plan will be 10% of the Corporation's issued and outstanding share capital at the time of any grant, inclusive of a maximum of 6,467,923 Common Shares issuable pursuant to RSUs granted under the Plan.

ABOUT CEMATRIX

CEMATRIX is a rapidly growing, cash flow positive company that manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America. This unique cement-based material with superior thermal protection delivers cost-effective, innovative solutions to a broad range of problems facing the infrastructure, industrial (including oil and gas) and commercial markets. Through recent acquisitions of Chicago based MixOnSite and Bellingham based Pacific International Grout, CEMATRIX is now North America’s largest Cellular Concrete company.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Jeff Kendrick - President and Chief Executive Officer

Phone: (403) 219-0484

Glen Akselrod – President, Bristol Capital

Phone: (905) 326 1888 ext 1

Jeff Walker – Vice President, The Howard Group

Phone: (888) 221-0915 or (403) 221-0915