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CEMATRIX Cellular Concrete Solutions CEMATRIX Announces 2021 Second Quarter Results Calgary , Alberta – August 11 , 2021 – CEMATRIX Corporation ( TSXV : CVX ) ( OTCQB : CTXXF ) ( " CEMATRIX " or the " Company " ) a North American leading manufacturer and supplier of technologically advanced cellular concrete products announced the release of its consolidated financial results for the quarter ended June 30 , 2021 . " Despite the lower sales for the quarter and year to date , we remain very positive and optimistic for the year and the future of our business , as we move forward from this COVID environment " stated Jeff Kendrick , President and CEO of CEMATRIX . “ The demand for cellular concrete remains strong , as evidenced by increased bidding activity , particularly in Canada and with our growing backlog that continues to exceed $ 94 million . Our forecast for 2021 continues to be strong and even though we don't expect to lose any sales and to continue to grow our backlog , there is still the potential for further delays in projects , especially given the resurgence of the virus in North America . " “ Of note , even though the second quarter and year to date sales and margins were lower than the previous year , most of the reduction in sales was mainly due to the timing of projects . For 2021 , more of the larger US projects are scheduled to be completed in the latter half of the year , which was not the case in 2020. Additionally , our customers rescheduled a couple of larger Canadian projects into the latter half of the year as well . " " Furthermore , we continue to pursue organic growth opportunities throughout North America , and we are moving forward with regional expansion plans , in an effort to accelerate our strategic plan . In conclusion , and as I do every quarter , I want to thank all of our employees at CEMATRIX , particularly our field staff , for staying safe and making our success possible through hard work and dedication . ” " A key part of our strategic plan is the focus on strengthening our balance sheet and reducing overall leverage , " stated Randy Boomhour , CFO of Cematrix . “ As a result of the conversion of the $ 2.5M USD and MOS convertible note , we have continued to successfully reduce overall leverage and improve the Company's working capital position . With our strong cash position of $ 21 million and improved overall balance sheet , Cematrix continues to be well positioned to execute on our strategic plan . ” The following are the business and financial highlights for the first quarter : Business highlights for the quarter : • • Announced the addition of Anna Cuglietta to the Board of Directors ( April 27 , 2021 ) Announced new project awards of $ 3.6 million and a backlog of $ 96.2 million ( May 5 , 2021 ) Announced new project awards of $ 8.1 million and a backlog of $ 94.0 million ( June 10 , 2021 ) Financial highlights for the second quarter : • Revenue decreased to $ 4.0 million in Q2 2021 versus $ 7.4 million in Q2 2020 . • Operating loss in Q2 2021 was $ 1.5 million versus breakeven in Q2 2020 . • • Adjusted EBITDA was negative $ 0.9 million in Q2 2021 versus positive $ 0.7 million in Q2 2020 . Cashflow from operations was negative , with cash used in operating activities of $ 1.2 million in Q2 2021 versus $ 0.5 million used in 2020 . Working capital as at the end of the quarter was $ 21.5 million with $ 21.3 million in cash .