News Releases

Cymat Announces Senior Management Addition and Intiates Plant Optimization Capital Investment Program

Mississauga, Ontario

October 18, 2021 – Mississauga, Ontario – Cymat Technologies Ltd. (TSXV: CYM) (the “Company” or “Cymat”) is pleased to announce the appointment of Mario DeAngelis as its new Chief Operating Officer (COO). In addition, Cymat announces that it has recently embarked on a major capital investment program to increase both plant capacity and efficiency, as well as improve production reliability.

Mario DeAngelis, a professional engineer, is a seasoned international automotive executive with over 25 years of experience. Mario was most recently responsible for the European operations of a major North American automotive parts company with responsibility for 7 plants across the continent. He is an accomplished business manager with expertise in both production efficiency initiatives and new technology deployments.

Cymat’s major capital investment program is being undertaken to accommodate significant anticipated growth in all of its three major commercial verticals: architetural products, automotive and military. The Company will invest approximately $2M, for which it is currently well capitalized to execute, to upgrade and modernize its Mississauga Ontario plant and to facilitate various R&D/product development initiatives. This program is expected to increase the plant’s output to approximately $75M (on a staged basis) as well as deploy automation and new technology to improve its overall cost structure. The Company’s production upgrades will address equipment reliability issues that have intermittently hindered Cymat’s operations in the past. These initiatives are particularly germain to Cymat’s automotive aspirations as production capacity, output reliability and process robustness are essential prerequisites for successful entry into volume manufacturing opportunities in the automotive industry.

Michael Liik, CEO, commented, “I am excited to have a person of Mario’s calibre and experience join us at such a critical juncture in the Company’s evolution. Mr. Liik added, “We are currently in the midst of recruiting other seasoned executives in the commercial area to assist with our growth initiatives and Mario will be instrumental in the Cymat team’s successful execution of its major capital program.”

About Cymat:

Cymat Technologies Ltd. is an innovative materials technology company employing a proprietary process to manufacture our unique Stabilized Aluminum Foam (“SAF”). Cymat SAF is an advanced lightweight recyclable material with a wide array of features including customizable density and dimensions, energy absorption and thermal and acoustic insulation. Cymat is focused on producing SAF for architecture, blast mitigation, automotive, transportation and industrial markets. Cymat’s architectural brand, Alusion™, has become an accepted choice for superior and unique cladding and façade alternatives for the building industry. The Alusion™ brand is recognized globally, having completed projects on almost every continent.

Cymat’s SmartMetal™ division has developed proven products for energy absorption applications including blast mitigation for the military sector and impact reduction for the nuclear energy sector. Cymat is working with numerous manufacturers and solution providers around the world for the integration of SmartMetal™ into kinetic energy management systems. Cymat is based in Mississauga, just outside Toronto, where it operates a 2.400 sq. metre plant. For further information on Cymat, please visit our Web site www.cymat.com.

For further information: please contact:

Investors and Media:

Michael Liik, CEO
Cymat Technologies Ltd
416-704-6217
liik@cymat.com

Investor Cubed Inc.:
Neil Simon, CEO
647-258-3310
nsimon@investor3.ca