iFabric Corp. provides update on intelligent fabric patents and submissions
Press Release – August 13, 2012
iFABRIC CORP PROVIDES UPDATE ON INTELLIGENT FABRIC PATENTS AND SUBMISSIONS
August 13th, 2012. iFabric Corp (“IFA.V”), hereinafter referred to as “iFabric” or the “Company”, today announced that a Notice of Allowance of Patent has been received from the Canadian Intellectual Property Office in respect of its ENGUARD® insect repellent fabric. A United States patent was previously granted in March 2009.
“The grant of these patents is just a first step in the wide scale commercialization of products containing our proprietary ENGUARD® technology, as regulatory approvals from both the Environmental Protection Agency (“EPA”) in the US and Health Canada (“HC”) are required before such products can be sold in our exclusive markets,” said Hylton Karon, President and CEO. “Our Canadian regulatory submission to the Pest Management Regulatory Agency (“PMRA”), a division of HC, has been filed and we are well into the final stages of review. In addition, we are currently readying our EPA submissions,” added Mr. Karon.
ENGUARD® insect repellent clothing has been clinically tested and proven at the London School of Hygiene & Tropical Medicine, where Nigel Hill, Medical Entomologist explained, “The fabric performed exceptionally well in our tests against hungry mosquitoes. It continually re-impregnates itself with fresh repellent during normal use giving long term protection without the need to continually add more chemical.” This has been confirmed by the Company’s own testing which was conducted by a top North American laboratory.
ENGUARD® mosquito repellant is 100% insecticide free, isnon-invasive, and is activated simply by rubbing or scrunchingthe fabric whichreleases a fresh smelling vapor which is safe for the whole family. The activated fabriccreates a comforting and long-lasting protective areaaround the wearer andis durable to repeated washes.
“It is the company’s intention to add additional products like sprays, utilizing the same technology to the family of ENGUARD® products,” added Mr.Karon.
ABOUT iFABRIC CORP:
iFABRIC CORP currently has 25.2 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.
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.