MARKHAM, ONTARIO -- (Marketwired) -- 09/10/13 -- iFabric Corp. (TSX VENTURE: IFA), hereinafter referred to as "iFabric" or the "Company", is pleased to provide this update with regard to important milestones and developments recently achieved by its wholly-owned subsidiary company, Intelligent Fabric Technologies (North America) Inc. ("IFTNA").
Shipments to US Fabric Finishers
IFTNA has commenced shipping Cliniweave to dye-houses in the USA for use in programs for The North Face, Under Armour and other global brands. "Whilst we believe that Asian producers will comprise our main market for the manufacture of Cliniweave infused products, US apparel manufacturers still produce significant volumes of apparel for the North American market so the importance of working with US dye- houses cannot be underestimated" said Hylton Karon, President and CEO of iFabric. "We anticipate modest shipments of Cliniweave to the US until the end of 2013 after which, we expect to see a steady increase in volumes as Cliniweave is integrated into future programs" he added.
IFTNA has developed a universal Cliniweave plastics matrix for incorporating Cliniweave into plastics commonly used in a variety of industries. "We have devoted significant resources on Cliniweave plastics integration as we see this as an important market for us" said Mr. Karon. "We are very encouraged by the efficacy shown by laboratory testing of Cliniweave infused plastics to date. Our initial target markets are medical devices, food services, computing components and packaging and storage products, amongst others" added Mr. Karon.
"We have commenced shipping Cliniweave PM to Instore Corp. ("Instore") for use in reusable shopping bags to be supplied to major grocery chains in the US and Canada. Instore is a market leader in the design and manufacture of unique products that support the needs of the global grocery industry and we are excited to be working with them" concluded Mr Karon.
Cliniweave Laundry Additive
IFTNA has successfully completed the development of an industrial laundry additive for use within normal laundering protocols. Recent laboratory testing against the Norwalk virus, (commonly referred to as Norovirus) has shown that fabrics laundered with the inclusion of the Cliniweave AV additive in the laundering process are highly effective in destroying the virus. "Our target market here is the cruise line industry, whose problems with Norovirus have been well documented and we are hoping to do an onboard trial with a major cruise line within the next 12 months to determine whether the Cliniweave AV additive can prove to be a significant tool in the reduction of onboard instances of Norovirus infection" said Mr. Karon.
CLINIWEAVE provides long-term effective control against a wide range of common pathogens, including mold, mildew, fungi and odor causing bacteria. Its efficacy and safety has been documented in peer reviewed publications and certified laboratory tests. It is durable through repeated washing and is proven to kill bacteria associated with hospital acquired infections. Medical facility uses for Cliniweave include bedding, curtaining, air filters, scrubs, masks and surfaces amongst others.
ABOUT iFABRIC CORP:
iFABRIC CORP currently has 25.4 million shares issued and outstanding. iFABRIC is a manufacturer, distributor, licensor and licensee of ladies intimate apparel products and accessories as well proprietary chemical compounds that render fabrics intelligent, thereby improving the safety and well-being of the wearer.
FORWARD LOOKING STATEMENTS:
Forward-looking statements provide an opinion as to the effect of certain events and trends on the business. Certain statements contained in this news release constitute forward-looking statements. The use of any words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company's products.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance, or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason except as required by applicable securities laws.
Any financial outlook or future oriented financial information in this news release, as defined by applicable securities legislation, has been approved by management of iFabric. Such financial outlook or future oriented financial information is provided for the purpose of providing information about management's reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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