iFabric Corp.
TSX VENTURE : IFA

August 24, 2015 08:30 ET

iFabric Corp. Reaches 4 Year Deal With The North Face

MARKHAM, ONTARIO--(Marketwired - Aug. 24, 2015) - iFabric Corp. (TSX VENTURE:IFA), hereinafter referred to as "iFabric" or the "Company", today announced that its wholly-owned subsidiary company, Intelligent Fabric Technologies (North America) Inc. ("IFTNA"), has entered into a four year license agreement with The North Face®, a division of VF Corporation ("VF"). The agreement provides The North Face® with a license to use PROTX2 in outdoor apparel, footwear and equipment products manufactured and distributed by The North Face®.

In terms of the agreement, The North Face® will exclusively use PROTX2 in all their products that integrate antimicrobial technologies. The agreement further provides for co-branding of products that are treated with PROTX2 by inclusion of appropriate labeling to that effect.

"We have been working with the North Face® for some time and I believe that the signing of a definitive license agreement will further solidify the relationship between The North Face® and IFTNA," said Giancarlo Beevis, President and CEO of IFTNA. "Whilst initial focus has been the integration of PROTX2 in a number of their product offerings, we will be working with The North Face® to develop future products that will integrate additional textile technologies from our product pipeline as and when we commercialize these. Furthermore, it is anticipated that the signing of this strategic agreement will provide entrée to additional brands under the VF banner," concluded Mr. Beevis.

ABOUT THE NORTH FACE

Established more than 40 years ago, The North Face® distributes an extensive line of performance apparel, equipment, and footwear. The North Face® strives to push the boundaries of innovation in order to offer the most technically advanced products in the market. Today, these products are the first choice of the world's most accomplished climbers, mountaineers, extreme skiers, snowboarders, endurance runners, and explorers.

ABOUT VF

With revenues of over US$12 billion, VF serves consumers with over 30 brands, multiple channels of distribution and geographies organized by five distinct coalitions: Outdoor & Actions Sports, Jeanswear, Imagewear, Sportswear and Contemporary Brands. VF Corporation's brands include "7 For All Mankind", "Ella Moss", "Bullwark", "Lee", "Rustler", "Majestic", "Nautica", "JamSport", "Wrangler Europe", "Eagle Creek", "The North Face", "Smartwool", "Riders By Lee", "Reef", "Kipling", "Red Cap", "Horace Small", "Splendid", "Timberland", "Lucy", "Napapijri", "Wrangler Western Wear", "Eastpak", "Vans" and "Wrangler".

VF Corporation's strategy is focused on attaining sustainable, long-term growth driven by continued geographic expansion with their wholesale partners and owned retail, and through product innovation, and acquisitions.

ABOUT PROTX2:

PROTX2 is effective against a wide range of micro-organisms including mold, mildew, fungi and odor causing bacteria. It provides long-term, effective control of micro-organisms. Its efficacy and safety has been documented in numerous peer reviewed publications, trade articles and certified tests. It is durable to deterioration through repeated washing.

ABOUT iFABRIC:

Headquartered in Markham, Ontario, iFabric Corp www.ifabriccorp.com currently has 25.9 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 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, accessories and sleepwear.

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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