News Releases

PORTLAND, Ore. , March 26, 2020 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or “Schmitt”), in response to the current economic and market conditions due to the COVID-19 pandemic, made the following announcements. First, Schmitt has implemented COVID-19 response and

PORTLAND, Ore. , Feb. 19, 2020 (GLOBE NEWSWIRE) --   Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) today announced it will delay the delisting and deregistration of its common stock (the “Common Stock”) from the NASDAQ Stock Market (“NASDAQ”).  Accordingly, the Company has

PORTLAND, Ore. , Feb. 04, 2020 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) today announced its intention to delist its common stock from the NASDAQ Stock Market (“NASDAQ”) and list on the OTC Pink Market. Shifting the listing allows Schmitt to save

PORTLAND, Ore. , Jan. 15, 2020 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) today announced its operating results for the second quarter of Fiscal 2020. Highlights of the three and six months ended November 30, 2019 : Schmitt completed the announced sale

PORTLAND, Ore. , Dec. 18, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) announced today that Regina Walker has tendered her resignation as Chief Financial Officer of the Company, effective January 15, 2020 . Ms.

PORTLAND, Ore. , Dec. 18, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) today announced that the Company, together with three directors (“Directors”) of the Schmitt Board of Directors (the “Board’), acquired 509,331 shares of common stock of Schmitt

PORTLAND, Ore. , Dec. 03, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) today announced that its Board of Directors authorized a share repurchase plan (the “Plan”) to buy up to $2 million of its common stock.

PORTLAND, Ore. , Nov. 27, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (“Schmitt” or the “Company”) (NASDAQ: SMIT ) today announced that it has closed on the sale of its Schmitt Dynamic Balance Systems (“SBS”) business line to Tosei Engineering Corp. and Tosei America, Inc.

PORTLAND, Ore. , Oct. 23, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) is pleased to announce the appointment of Regina (“Gina”) Walker, CPA ("Ms. Walker"), as Chief Financial Officer (“CFO”) of the Company, effective immediately.

  STRATEGIC SALE TO TOSEI ENGINEERING CORP   PURCHASE PRICE OF $10.5 MILLION IN CASH   TOSEI LEASES SCHMITT’S 28TH STREET PROPERTY FOR 10-YEARS   30-DAY GO SHOP PERIOD     PORTLAND, Ore. , Oct. 10, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (“Schmitt”) (NASDAQ: SMIT ) today announced that it

PORTLAND, Ore. , Oct. 08, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) today announced its operating results for the first quarter of Fiscal 2020. Highlights of the quarter ended August 31, 2019 :     Consolidated revenue decreased $98,568 , or

PORTLAND, Ore. , Aug. 26, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) announced today that Ann M. Ferguson submitted her letter of resignation as Chief Financial Officer of the Company, effective November 30, 2019 . Ms.

PORTLAND, Ore. , Aug. 06, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced  its Xact™ Tank Monitoring Solutions (“Xact”) business line, a leading provider of satellite-connected gauge and ultrasonic readers in the Internet of Things (”IoT”) environment, has

BOARD APPOINTS MICHAEL R. ZAPATA AS CHIEF EXECUTIVE OFFICER IMPLEMENTATION OF PERFORMANCE-BASED PAY FOR EXECUTIVES IMPLEMENTATION OF SUGGESTED MINIMUM SHARE OWNERSHIP REQUIREMENTS PROPOSAL FOR DECLASSIFIED BOARD AT 2019 ANNUAL MEETING PORTLAND, Ore. , Aug.

PORTLAND, Ore. , July 31, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced its financial results for the fiscal year ended May 31, 2019 . For the year ended May 31, 2019 , the Company reported consolidated revenue of $13,810,161 , compared to $13,888,063 and

PORTLAND, Ore. , July 02, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) announced today that the Company’s Board of Directors (the “Board”) has adopted a stockholder rights plan in an effort to protect its net operating loss carryforwards (“NOLs”) under Section 382 of the

PORTLAND, Ore. , June 26, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced the appointment of Steven Strom as the fifth member of the Company’s Board of Directors (the “Board”) effective June 21, 2019 . Steven Strom is an “independent director” according to the

PORTLAND, Ore. , April 30, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced results from a recent survey the Company conducted regarding its Schmitt Dynamic Balance System® (“SBS”) product line and the Company’s service in the grinding industry.

PORTLAND, Ore., April 16, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) today announced the relaunch of the Xact® website. Xact Main Page Why Xact? Xact, part of the Schmitt Industries family of products, provides industry-leading remote tank monitoring for fuel distributors.

PORTLAND, Ore. , April 10, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) today announced its operating results for the third quarter of Fiscal 2019. Highlights of the three and nine months ended February 28, 2019 : Total net sales for the Company