iFabric Corp.
TSX VENTURE : IFA

April 23, 2015 08:30 ET

iFabric Corp Signs New Maidenform Brands Agreement

MARKHAM, ONTARIO--(Marketwired - April 23, 2015) - iFabric Corp (TSX VENTURE:IFA), hereinafter referred to as "iFabric" or the "Company", today announced that its wholly-owned subsidiary company, Coconut Grove Pads Inc. ("CGP"), has entered into a license and distribution agreement with MFB International Holdings S.a.r.l., a subsidiary of HanesBrands Inc. ("Hanes"). The new agreement replaces a recently expired agreement between CGP and Maidenform Inc. ("Maidenform"), which was acquired by Hanes in October 2013. The agreement covers the distribution by CGP of intimate apparel accessories, specialty bra solutions and sleepwear under various Maidenform brands.

"The new agreement underscores the confidence that Hanes has in CGP, as a result of the substantial sales growth that we have achieved in Maidenform branded products since the signing of the original agreement with Maidenform in January 2011," said Hylton Karon, President and CEO of iFabric. "I am particularly excited about the new sleepwear category that has been added to our license. We have had great success with regard to our recent sleepwear offerings and will commence showing the initial Maidenform sleepwear ranges to our customers towards the end of 2015, followed by the official market launch in Q3 of 2016. We will also be adding new products to our accessory and specialty bra offerings. I feel confident that we will see significant growth in apparel sales in 2016 and beyond as a result of the new agreement," concluded Hylton Karon.

ABOUT HANESBRANDS INC:

HanesBrands, based in Winston-Salem, N.C., is a socially responsible leading marketer of everyday basic apparel in the Americas, Europe and Asia under some of the world's strongest apparel brands, including Hanes, Champion, Playtex, DIM, Bali, Maidenform, Flexees, JMS/Just My Size, Wonderbra, Nur Die/Nur Der, Lovable and Gear for Sports. The company sells T-shirts, bras, panties, shapewear, men's underwear, children's underwear, socks, hosiery, and activewear produced in the company's low-cost global supply chain. An S&P 500 company, Hanes has approximately 59,500 employees in more than 35 countries and takes pride in its strong reputation for ethical business practices. From 2011 through 2015, Hanes has been a U.S. Environmental Protection Agency Energy Star Sustained Excellence Award winner and was a Partner of the Year award winner in 2010 and 2011. The company has been ranked on Newsweek magazine's list of Top 500 greenest U.S. companies. More information about the company and its corporate social responsibility initiatives, including environmental, social compliance and community improvement achievements, may be found at www.Hanes.com/corporate.

ABOUT iFABRIC CORP:

Headquartered in Markham, Ontario, iFabric Corp www.ifabriccorp.com currently has 25.89 million shares issued and outstanding.

iFabric has two strategic divisions which are managed separately as they offer different products and services:

Intelligent Fabric Technologies (North America) Inc. is focused on proprietary chemical formulations that render fabrics, foams and numerous other surfaces intelligent, thereby improving the safety and well-being of the consumer.

Coconut Grove Pads Inc., 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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