CYMAT TECHNOLOGES LTD NEW - CYMHF STOCK NEWS

Cymat Technologies Ltd. (TSXV: CYM, OTCQB: CYMHF) announced a significant update on April 21, 2023, regarding the repricing of approximately 3,859,862 outstanding common share purchase warrants originally set at $0.90 with an expiry of May 5, 2023. The new exercise price is $0.32, while the expiry date remains unchanged. The TSX Venture Exchange approved this amendment along with a warrant exercise incentive program to encourage early exercise of the amended warrants. Each holder exercising by April 28, 2023 will receive an additional Incentive Warrant to purchase shares at $0.50 until April 28, 2025. Holders must be accredited investors to qualify for these incentives.

Cymat Technologies Ltd. (TSXV: CYM, OTCQB: CYMHF) announced an update regarding the repricing of outstanding warrants as of April 18, 2023. The company has obtained consent from warrant holders to reprice 3,859,862 warrants from an exercise price of $0.90 to $0.32, previously set to expire on May 5, 2023. This strategic move aims to facilitate the earlier exercise of these 'out of the money' warrants, improving the company's financial position for upcoming business opportunities in the automotive and military sectors. Additionally, the company is introducing an Incentive Program, offering one additional warrant at $0.50 for each Amended Warrant exercised. Approval from the TSX Venture Exchange for these amendments is still pending, indicating a cautious yet proactive approach in enhancing shareholder value.

Cymat Technologies Ltd. (TSXV: CYM, OTCQB: CYMHF) announced plans to repricing 3,859,862 outstanding common share purchase Warrants from $0.90 to $0.32, originally set to expire on May 5, 2023. This repricing aims to incentivize early Warrant exercises to bolster the balance sheet for funding automotive and military development projects. An accompanying Incentive Program will issue additional Warrants for every Amended Warrant exercised by April 14, 2023. CEO Michael Liik emphasized the need for ongoing funding for current development programs. The repricing and program are subject to Warrant holder consent and TSX Venture Exchange approval.

Cymat Technologies Ltd. (TSXV: CYM, OTCQB: CYMHF) announced plans to reprice 3,859,862 outstanding common share purchase warrants from $0.90 to $0.45, targeting improved balance sheet and funding for automotive and military development programs. This repricing is part of an incentive program to encourage early exercise, offering additional incentive warrants for each warrant exercised before March 31, 2023. The repricing and incentive program require consent from warrant holders and approval from the TSX Venture Exchange. CEO Michael Liik emphasized the need for ongoing funding, underscoring the strategic importance of this initiative.

Cymat Technologies Ltd. (TSXV: CYM, OTCQB: CYMHF) reported a revenue increase to approximately $1.0M for the second quarter of fiscal 2023, up from $0.4M in Q2 2022. The growth was driven by significant orders, including shipments to a large American internet company and military applications in Asia. However, the company experienced an operating loss of $1.3M, with increased expenses due to a second production shift and maintenance costs. Notably, Cymat anticipates further sales growth in its architectural and military product lines through 2023.

Cymat Technologies Ltd. (TSXV: CYM) (OTCQB: CYMHF) has secured a second component development agreement with a global automotive OEM. Following a successful initial agreement, Cymat will design a side-impact component for a battery enclosure in new electric vehicles, focusing on optimizing crash performance within a lightweight structure. The expected initial production is for 50,000 vehicles, with growth potential into the hundreds of thousands. CEO Michael Liik expressed optimism about the company's innovative material, SmartMetal^TM, and its expanding role in electric vehicle design.

Cymat Technologies Ltd. reported first quarter results for fiscal 2023 ending July 31, 2022, with sales of $1.1M, a rise from $0.9M the previous year. The loss from operations was $1.7M, up from $1M YoY, driven by higher operating expenses and non-cash stock option charges. Significant Alusion™ orders are anticipated in New York, Spokane, and South Korea, while SmartMetal™ has received an initial military order for 700 vehicles. The company remains focused on the automotive sector, pursuing EV projects with OEMs.

Cymat Technologies Ltd. has received a purchase order for military under-belly blast protection kits from an Asian manufacturer for the Singaporean military. This initial order encompasses three kits, part of a potential total of 700 kits, valued between $5 million and $7 million. Following successful testing of previous kits, Cymat's SmartMetal™ stabilized aluminum foam has proven effective against IEDs. CEO Michael Liik expressed optimism regarding the company's credibility and long-term production base as a result of this breakthrough in the military sector.