CEMATRIX is a rapidly growing company that manufactures and supplies technologically advanced cellular concrete products that are developed from proprietary formulations.
PIGCO’s unique cement-based material has superior thermal protection, delivers a cost-effective, innovative solution to a broad range of problems facing the infrastructure, industrial (including oil and gas) and commercial markets.
The acquisition involved a share purchase agreement between Cematrix (USA) Inc. and Pat Stephens, the sole shareholder of the outstanding shares of PIGCO.
The purchase price for all outstanding PIGCO Shares was paid to the sole shareholder as follows:
- cash in the amount of $2.8 million (USD);
- Vendor Financing in the amount of $0.575 million (USD), to be repaid over six months commencing January 1, 2020; and
- 3,305,250 common shares of CEMATRIX issued at $0.20 per CEMATRIX Share for a deemed value of $0.5 million (USD).