CALGARY, Alberta, Nov. 27, 2023 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products is pleased to announce that Randy Boomhour has been promoted to Chief Operating Officer effective January 1st, 2024. Mr. Boomhour is currently the Chief Financial Officer of CEMATRIX and General Manager of CEMATRIX Canada. The Company has retained a recruiting firm and the search for a new CFO is underway. Mr. Boomhour will maintain his current CFO responsibilities until a new CFO is hired.

"During his time at CEMATIX as CFO, Randy helped worked with me to spearhead CEMATRIX's capital raising efforts, simplify and de-lever our balance sheet and to strengthen our relationships with key stakeholders. In addition to his CFO responsibilities, Randy successfully guided our Canadian Division this year, a year in which this Division is realizing significant revenue growth from recent years including a return to profitability" stated Jeff Kendrick, CEMATRIX President and CEO. "The Board of Directors and myself both congratulate Randy on his promotion, and we are confident in his ability to work with our leadership team to continue our success going forward."

"I am honoured to have earned the support of Jeff and the Board for this key role in the Company" stated Randy Boomhour. "I am proud to be part of a strong leadership team that lives our values every day, that has delivered record results in 2023 and that is expecting continued growth for the foreseeable future. I am strongly aligned with our shareholders, and we remain laser focused on delivering our strategic plan to remain a growing, cashflow positive company coupled with a strong simplified balance sheet that positions us for future growth."

ABOUT CEMATRIX

CEMATRIX is a rapidly growing 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, energy and commercial markets. The Company's wholly owned operating subsidiaries include CEMATRIX (Canada) Inc. ("CCI"), Chicago based MixOnSite USA Inc. ("MOS") and Bellingham based Pacific International Grout Company ("PIGCO"). This has made CEMATRIX a true leader in North America's growing Cellular Concrete market. CEMATRIX's 2022 investment in Glavel Inc., of Burlington Vermont, a foamed glass manufacturer, has strengthened CEMATRIX's commitment to the environment in the infrastructure construction space. For more information, please visit our website at .

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by the Company, including satisfaction of regulatory requirements in various jurisdictions and the Company's anticipated use of the net proceeds of the Offering. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, which could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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
glen@bristolir.com

Jeff Walker, The Howard Group – Investor Relations
Phone: (888) 221-0915 or (403) 221-0915
jeff@howardgroupinc.com