TORONTO, Jan. 08, 2024 (GLOBE NEWSWIRE) --  Mattr Corp. (formerly Shawcor Ltd.) (“Mattr” or the “Company”) (TSX: MATR) announced today that it has filed articles of amendment in accordance with the Canada Business Corporations Act and, effective today, completed its legal name change to Mattr Corp. pursuant to such filing (the “Name Change”).

The Company first announced its intention to change its name on September 12, 2022, with the Company’s common shareholders approving the Name Change on May 12, 2023, at the Company’s annual and special meeting of shareholders. On June 7, 2023, the Company announced its rebranding to “Mattr” and began conducting business as “Shawcor Ltd. dba Mattr Infratech”.

“The Company rebranded last summer, utilizing a dba structure to facilitate a simplified sale process for its pipeline coating business,” said Mike Reeves, President and CEO of Mattr. “With our portfolio transformation now complete, this official name change is a formality, but an important step in solidifying our new identity.”

The Company has received approval for the Name Change from the Toronto Stock Exchange (the “TSX”) and the Company’s common shares (the “Common Shares”) are expected to begin trading on the TSX under the new name at market open today. The Common Shares will continue to trade on the TSX under the ticker symbol “MATR”. In addition, the Company intends to submit an application for a voluntary symbol change for its US over-the-counter listing (where the Company currently trades under the listing “SAWLF”). More details on the new US trading symbol will be provided when available.

The CUSIP number assigned to the Common Shares following the Name Change is 57722Y102 (ISIN: CA57722Y1025). No action is required to be taken by shareholders with respect to the Name Change, and no change has been made to the Company’s share capital nor the rights of shareholders of the Company. The Company encourages any shareholder with questions to contact their broker or agent. Outstanding share certificates are not affected by the name change and do not need to be exchanged.

The articles of amendment effecting the Name Change are available on the Company’s SEDAR+ profile at www.sedarplus.com.

About Mattr
Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including electrification, transportation, communication, water management and energy. Its two business segments, Composite Technologies and Connection Technologies, operate a global network of manufacturing and technology centers, delivering differentiated, high-value products which enable responsible renewal and enhancement of critical infrastructure while lowering risk and environmental impact.

For further information, please contact:

Meghan MacEachern
VP, External Communications & ESG
Telephone: 437.341.1848
Email: meghan.maceachern@mattr.com
Website: www.mattr.com

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate" or similar terminology are used to identify forward-looking information. Forward-looking statements include, but are not limited to, the Company’s intention to submit an application for a voluntary symbol change for its US over-the-counter markets listing. This forward-looking information is based on assumptions, estimates and analysis made in the light of the Company's experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. The forward-looking information is provided as of the date of this news release and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.

Source: Mattr Corp.