iFabric Corp.
TSX VENTURE : IFA

July 17, 2014 08:30 ET

iFabric Corp Announces the Appointment of New President and CEO of Intelligent Textiles Divsion

MARKHAM, ONTARIO--(Marketwired - July 17, 2014) - The Board of Directors of iFabric Corp (TSX VENTURE:IFA), hereinafter referred to as "iFabric" or the "Company", is pleased to announce the appointment of Mr. Giancarlo Beevis as President and CEO of its wholly-owned subsidiary company, Intelligent Fabric Technologies (North America) Inc. ("IFTNA").

"This appointment was made in recognition of the vital role Giancarlo has played in securing a number of important customer and supplier relationships and for overseeing the regulatory registrations and approval processes that are key to the growth of our intelligent textiles division." said Dr. Jeff Coyne, Chairman of the Board of Directors of iFabric. In addition, Giancarlo has developed a number of novel marketing strategies for the division. Giancarlo has a B.A. (Honours) degree from York University and joined the Company in 2006 after extensive experience in the management of sales for a number of major retailers.

"Giancarlo is an accomplished leader and strategic thinker who is passionate about our mission and is committed to our vision of developing a safer, healthier tomorrow through providing innovative solutions for textiles used in healthcare, as well as work, home and play." said Hylton Karon President and CEO of iFabric. "The appointment of Giancarlo is being made in anticipation of significant sales growth in intelligent textile technologies that, we see materializing commencing the first quarter of 2015." added Mr Karon.

"I see this as an exciting and pivotal time in the development of this division, and am looking forward to the challenge of growing IFTNA into a market leader." said Mr. Beevis.

ABOUT iFABRIC CORP:

iFABRIC CORP currently has 25.87 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.

www.ifabriccorp.com

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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