iFabric Corp. Announces Extension of Warrant Expiry

iFabric Corp. Announces Extension of Warrant Expiry

MARKHAM, Ontario, Nov. 10, 2017 (GLOBE NEWSWIRE) -- iFabric Corp. ("iFabric" or the "Company") (TSX:IFA) announces that the Toronto Stock Exchange ("TSX") has consented to the extension of the time to exercise warrants previously issued on December 13, 2013. A total of 203,625 warrants issued as part of a brokered private placement on December 13, 2013, were due to expire on December 13, 2017, and have been extended to now expire on December 13, 2018. The amendment to the expiry date of these warrants will be effective 10 business days following the date of this news release. Each warrant entitles the holder to acquire one common share of the Company at an exercise price of $5.25 per share. All warrantholders are arm's length to the Company.  Other than the extension of the expiry date, all other terms of the warrants will remain unchanged.

About iFabric Corp:

Headquartered in Markham, Ontario, iFabric Corp www.ifabriccorp.com currently has 26.2 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.

FOR FURTHER INFORMATION, please contact:

Hilton Price, CFO
Tel: 647.465.6161
Email: [email protected]