CVX – TSX Venture
Shares Issued: 33.4 million
Fully Diluted: 36.7 million
Earlier today, CEMATRIX announced the addition of $1.9 million in contracts, which brings this year’s total contracted work to $8.3 million. According to the news release, $1.35 million of the contracted work is for an infrastructure project in Ontario, a portion of which will be completed in the New Year.
The latest announcement comes as welcome news, as typically the third quarter is a quieter time of year on the sales front for CEMATRIX, given the seasonal nature of the business.
In today’s news release, President and CEO of Cematrix, Jeff Kendrick, states, “The growth CEMATRIX is achieving in the infrastructure market, especially in Eastern Canada, is a testament to our many years of dedication, proving our unique product is moving towards broad market acceptance for various infrastructure type applications across the country.”
The Company has made considerable strides in gaining market acceptance over the past five years, which is a common challenge facing unique and lesser known products. In 2008, infrastructure projects contributed to only 28% of CEMATRIX’s annual revenues. By contrast, infrastructure projects to date this year contribute to over 90%.