CEMATRIX Announces Upsizing of Public Offering of Units Co-Led by Gravitas Securities and Clarus Securities Due to Significan...
March 03 2021 - 01:30PM
CEMATRIX Corporation (TSXV: CVX) ("CEMATRIX" or the "Company") is pleased to announce that due to increased investor demand relating to its previously announced preliminary short form prospectus offering, the Company has filed an amended and restated preliminary short form prospectus (the "Prospectus") for the Company’s offering of units (the "Units") at a price of $0.65 per Unit of the Company for aggregate gross proceeds of up to $20,000,000 (the “Offering”), an increase from the previous maximum of $10,000,000.
The Offering is being conducted on a commercially reasonable agency basis by a syndicate of agents led by Gravitas Securities Inc. and Clarus Securities Inc., as co-lead agents and bookrunners, on behalf of a syndicate of agents (collectively, the "Agents").
Each Unit will consist of one common share of the Company (each a "Common Share") and one-half of one common share purchase warrant (each full warrant, a "Warrant"). Each Warrant will be exercisable for one Common Share at a price of $0.81, for a period of 24 months following closing of the Offering.
The Company has granted the Agents an option (the "Over-Allotment Option"), exercisable in whole or in part at the sole discretion of the Agents, at any time for a period of 30 days from and including the closing of the Offering, to purchase from the Company up to an additional 15% of the Units sold under the Offering, on the same terms and conditions of the Offering to cover over-allotments, if any, and for market stabilization purposes.
The closing of the Offering is anticipated to occur on March 15, 2021 or such other date as the Company and the Agents may agree. Closing of the Offering is subject to customary closing conditions, including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory approvals, including the approval of the securities regulatory authorities and the TSX Venture Exchange.
The net proceeds from the Offering will be used to fund future acquisitions, new equipment and personnel to support regional expansion, and general working capital including repayment of debt.
The Units to be issued under the Offering will be offered by way of amended and restated short form prospectus in each of Ontario, Manitoba, Alberta, Saskatchewan and British Columbia and such other jurisdictions as the Company and the Agents may agree to, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. A copy of the Prospectus is available under the Company's profile at www.sedar.com or by request to Gravitas Securities Inc. at email@example.com or Clarus Securities Inc. at firstname.lastname@example.org.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.