MARKHAM, ON / ACCESSWIRE / March 19, 2020 / iFabric Corp. ("iFabric" or the "Company") (TSX:IFA.TO), today announced that it is following direction from the Ontario government and is working to create solutions to protect the health and well-being of its employees, customers and communities. As the situation with COVID-19 continues to evolve iFabric is doing its part in attempting to curb the virus by temporarily closing its Toronto based head office and moving to work-from-home and digital collaboration alternatives wherever possible. The company has also halted all international and domestic air travel to minimize risk of exposure. However, iFabric will continue to ship product both domestically and internationally through its multiple warehouse locations.
"On behalf of everyone at iFabric Corp., our hearts go out to all of those impacted by COVID-19. Our focus is, as always, on the health and safety of our employees, customers and communities," said Hylton Karon, President and CEO of iFabric. "We will continue to be guided by federal, provincial and municipal governments, and public health authorities to ensure we do all we can to slow the spread of COVID-19.
I also want to also assure our investors, suppliers and customers that our strong balance sheet and our strong management team, will enable the Company to ride out the challenges presented by the current pandemic," concluded Hylton Karon.
ABOUT iFABRIC CORP:
Headquartered in Markham, Ontario, iFabric Corp www.ifabriccorp.com currently has 26.2 million shares issued and outstanding. Through its wholly-owned subsidiaries, Intelligent Fabric Technologies (North America) Inc. ("IFTNA") and Coconut Grove Pads Inc. ("Coconut Grove"), the Company offers a variety of products and services in both of its strategic divisions:
IFTNA is focused on performance apparel as well as proprietary chemical formulations that render fabrics, foams, plastics and numerous other surfaces intelligent, thereby improving the safety and well-being of the consumer.
Coconut Grove, operating as Coconut Grove Intimates, is a designer, manufacturer, distributor, licensor and licensee of ladies intimate apparel products and accessories.
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.
FOR FURTHER INFORMATION, please contact:
Hilton Price, CFO
Tel: 647.465.6161
Email: [email protected]
Gary Perkins - Investor Relations
Tel: 416.882.0020
Email: [email protected]
Jean-François Dubé (Québec) - Investor Relations
Tel: 514.233.9551
Email: [email protected]
Neither the TSX nor its Regulations Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: iFabric Corp.