MARKHAM, ON / ACCESSWIRE / July 5, 2023 / Hylton Karon President and CEO of iFabric Corp. ("iFabric" or the "Company") (TSX:IFA.TO)(OTCQX:IFABF), today provides an update on the outcome of the clinical trial conducted by its wholly-owned subsidiary, Intelligent Fabric Technologies (North America) Inc. ("IFTNA").

"I am pleased to announce the receipt of exciting results in respect of our recent clinical trial," stated Hylton Karon, President and CEO of iFabric. "The objective of the trial was to empirically demonstrate the reduction in bacterial loads on PROTX2 treated scrubs vs standard off the shelf untreated scrubs, when used in a healthcare environment. Three sets of scrubs were produced for the trial; one set treated with ProTX2 only, a second set with Protx2 and our proprietary DWR (durable water repellant) technology and, a third set with no technologies applied (the control)," continued Mr. Karon.

"The summary of the trial findings is that both the PROTX2 and the PROTX2 with DWR treated scrubs demonstrated statistically significant reductions in bacterial loads on the surfaces of scrubs, as compared to untreated scrubs. The term statistically significant is used to describe a result that is highly unlikely to occur by chance alone in a natural environment. The results achieved in the study demonstrate that our proprietary technologies were uniquely responsible for the reduction in bacterial loads witnessed throughout the trial. The next and final phase of this trial is to submit the study to a recognized medical journal for peer review. Once completed, we will press release a summary of the final peer review findings.

I would like to congratulate Mr. Giancarlo Beevis (President and CEO of IFTNA) and his team, who were instrumental in the design and execution of this study, which was conducted in the United States at the MermorialCare Saddleback Medical Center, Irvine, California," concluded Mr. Karon.

ABOUT ProTX2

ProTX2® is a powerful eco-friendly technology that provides antibacterial, antimicrobial, antimold, anti-mildew, and anti-odor protection. When treated, each textile fiber is fundamentally transformed through PROTX2®'s technology, providing proprietary unrivaled protection against pathogens associated with healthcare-associated infections as well as the toughest odors, for medical and performance textiles.

ABOUT iFABRIC CORP:

Headquartered in Markham, Ontario, iFabric, www.ifabriccorp.com, is listed on the TSX and, currently has 30.3 million shares issued and outstanding. Its two strategic divisions offer a variety of products and services through wholly-owned subsidiaries, namely, Intelligent Fabric Technologies (North America) Inc. ("IFTNA") and Coconut Grove Pads Inc. ("Coconut Grove").

IFTNA is focused on development and sale of high-performance sports apparel, medical protective apparel, consumer protective apparel, and proprietary treatments that provide "intelligent" properties to fabrics, foams, plastics, and numerous other surfaces, thereby improving the safety and well-being of the user. Such intelligent properties include antiviral and antibacterial characteristics, water-repellence and UV protection, among others.

Coconut Grove, operating as Coconut Grove Intimates, is a designer, manufacturer, distributor, licensor and licensee of ladies' intimate apparel products and accessories.

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, including the risk factors described in the Company's annual information form dated December 29, 2022 and other filings with the Canadian securities regulators available under the Company's profile on SEDAR at www.sedar.com.

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.

Given the impacts of COVID-19 and the war in Ukraine resulting in ongoing uncertainty, there can be no assurances regarding: (a) the COVID-19 and the war in Ukraine related impacts on the Company's business, operations and performance, (b) the Company's ability to mitigate such impacts; (c) credit, market, currency, operational, and liquidity risks generally; and (d) other risks inherent to the Company's business and/or factors beyond its control which could have a material adverse effect on the Company.

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.

FOR FURTHER INFORMATION, please contact:

Hilton Price, CFO
Tel: 647.465.6161
Email: hilton.price@rogers.com
Website: www.ifabriccorp.com

Neither the TSX Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: iFabric Corp