News Releases

Cymat Announces Strategic Investment in Tesseract Structural Innovations and Board Appointment

Mississauga, Ontario

December 8, 2021 – Mississauga, Ontario – Cymat Technologies Ltd. (TSXV: CYM) (the “Company” or “Cymat”) is pleased to announce that the Company has made a strategic investment in Tesseract Structural Solutions Inc. (“Tesseract”) and Michael Liik, Cymat CEO and Chairman, has been appointed to the Tesseract board of directors. Tesseract is an automotive design company specializing in the creation of light-weight solutions for crash energy absorption within automotive body structures.

Cymat has invested USD 250,000 into a convertible promissory note (the “Note”) bearing interest at ten percent (10%) per annum and maturing on May 15, 2023 (the “Maturity Date”). In the event that Tesseract issues equity for proceeds of USD 500,000 or above prior to the Maturity Date, the Notes and any unpaid interest will convert to common equity. In addition, Cymat has entered into an agreement with Tesseract to appoint Mr. Liik (or a Cymat designated substitute under certain conditions) to the Tesseract board of directors for a 10 year term. Cymat had previously entered into a marketing co-operation agreement with Tesseract (see press release issued Oct. 20, 2020). Amongst other conditions, the agreement obligates Tesseract to deploy Cymat’s SmartMetal™ stabilized aluminum foam (“SAF”) exclusively into its components.

Michael Liik, CEO, commented, “We are thrilled to advance our relationship with Tesseract. The company’s engineering and design capabilities, coupled with Cymat’s unique SAF material and associated material science expertise, create an ideal platform to offer OEMs a suite of fully developed components for adoption into a variety of automotive structures or add-on solutions.” Mr. Liik further added, “Tesseract has developed a comprehensive understanding of how to optimize SAF’s use in light-weight crash-mitigation components. These parts are designed to address the unique crash-mitigation and vehicle light-weighting challenges faced by electric vehicle OEMs.”

James Lancaster, Tesseract CEO, commented, “This is the logical culmination of working together with Cymat over many years to perfect our technology. Our current focus is to combine Cymat’s aluminum foam – a material that one of our customers has called ‘magical’ – with our engineering expertise to create high-impact automotive components. Tesseract is particularly pleased about Cymat’s addition of two seasoned automotive business development executives that will without a doubt accelerate the wider-scale adoption of our array of components.”

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