MyCelx Technologies Corporation New Project Award (3600M)
May 11 2020 - 2:00AM
UK Regulatory
TIDMMYX TIDMTTM
RNS Number : 3600M
MyCelx Technologies Corporation
11 May 2020
11 May 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). This inside
information is now considered to be in the public domain.
MYCELX TECHNOLOGIES CORPORATION (AIM: MYX)
New Project Award
MYCELX Technologies Corporation ("MYCELX" or the "Company"), the
clean water technology company providing patented solutions for the
Oil and Gas market and commercial industrial markets worldwide, is
pleased to announce the award of a new purchase order with a SABIC
affiliate.
The purchase order, which has an estimated value of $800,000 to
MYCELX, is an emergency response project, treating process water in
order to maintain plant performance to the desired
specifications.
Commenting on the new project award, Connie Mixon, CEO,
said:
"We are pleased to be expanding our customer footprint in Saudi
Arabia by supporting another SABIC affiliate, thereby further
strengthening our position in the Middle East. Given the
unprecedented macro-economic backdrop, this purchase order is
further testament to the fact that our customers will continue to
require MYCELX's superior and reliable solutions to meet their
water management needs."
As previously announced, MYCELX is focused on the welfare of its
employees during the COVID-19 pandemic, and has also responded
swiftly in order to protect the Company's balance sheet with the
implementation of a series of company-wide cost saving measures.
The Company also applied and received a forgivable $400,000 loan
from the Payroll Protection Program administered by the US Small
Business Administration.
For further information please contact:
MYCELX Technologies Corporation
Connie Mixon, CEO Tel: +1 888 306 6843
Kim Slayton, CFO
Numis Securities Limited
John Prior Tel: +44 20 7260 1000
James Black, Emily Morris, Alamgir Ahmed
Celicourt
Mark Antelme Tel: +44 20 8434 2754
Jimmy Lea
Forward Looking Statements
This release contains certain statements that are or may be
"forward-looking statements". These statements typically contain
words such as "intends", "expects", "anticipates", "estimates" and
words of similar importance. All the statements other than
statements of historical facts included in this announcement,
including, without limitation, those regarding the Company's
financial position, business strategy, plans and objectives of
management for future operations (including development plans and
objectives relating to the Company's products and services) are
forward-looking statements. By their nature, forward-looking
statements involve risk and uncertainty because they relate to
events and depend on circumstances that will occur in the future
and therefore undue reliance should not be placed on such
forward-looking statements. There are a number of factors that
could cause the actual results, performance or achievements of the
Company to be materially different from future results, performance
or achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous
assumptions regarding the Company's present and future business
strategies and the environment in which the Company will operate in
the future and such assumptions may or may not prove to be correct.
Forward-looking statements speak only as at the date they are made.
Neither the Company nor any other person undertakes any obligation
(other than, in the case of the Company, pursuant to the AIM Rules
for Companies) to update publicly any of the information contained
in this announcement, including any forward-looking statements, in
the light of new information, change in circumstances or future
events.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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contact rns@lseg.com or visit www.rns.com.
END
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