iFabric Announces Exclusive Global License Agreement with Springs Window Fashions for use of ProTX2
MARKHAM, ON / ACCESSWIRE / July 28, 2021 / iFabric Corp. ('iFabric' or the 'Company') (TSX:IFA)(OTC:IFABF), today announced that its wholly-owned subsidiary company, Intelligent Fabric Technologies (North America) Inc. ('IFTNA'), has signed an exclusive, global license and supply agreement with Springs Window Fashions LLC ('SWF') for its Protx2 technologies for use in window coverings.
Extensive testing conducted by the Company have shown that Protx2 possesses broad spectrum antibacterial and antiviral properties and by its use can assist in combating healthcare and community acquired bacterial infections, including MRSA, Clostridium Difficile, VRE, Klebsiella Pneumonia, amongst others. In addition, Protx2® has displayed the proven ability to deactivate viruses, including SARS-CoV-2 (which causes the COVID-19 disease), as well as Norovirus and H1N1.
Under the terms of the agreement, IFTNA will supply SWF with Protx2 solutions and provide its expertise in integrating Protx2 in a number of SWF's market leading window coverings for commercial use.
'We are thrilled with the signing of a supply agreement with a market leader such as SWF and are honored that SWF has selected ProTX2 as its antibacterial technology of choice,' stated Giancarlo Beevis, President and CEO of IFTNA. This agreement marks another major step towards further increasing the visibility of our Protx2 brand.
About iFabric Corp.
Headquartered in Markham, Ontario, iFabric Corp. www.ifabriccorp.com is listed on the TSX and currently has 29.6 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, medical protective apparel, consumer protective 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 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
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SOURCE: iFabric Corp.
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