iFabric Corp Announces Issuance of New United States Utility Patent for Antiviral Applications on Textiles

MARKHAM, ON / ACCESSWIRE / June 13, 2023 / iFabric Corp. ("iFabric" or the "Company") (TSX:IFA)(OTCQX:IFABF), today announced that its wholly-owned subsidiary company, Intelligent Fabric Technologies (North America) Inc. ("IFTNA"), has been granted a utility patent by the United States Patent and Trademark Office, in respect of an Antiviral Composition for textile use, predicated on the company's innovative PROTX2 AV Anti-bacterial and Anti-viral technology.

"The granting of this new US patent proves once again the innovative strength of IFTNA and, in particular our PROTX2 range of technologies. Specifically, the patent protects the use of PROTX2 AV in imparting anti-viral properties to any textile," stated Giancarlo Beevis, President and CEO of IFTNA.

"This patent grant is another important milestone, as we continue to move forward with the commercialization of PROTX2 treated products in the medical, hospitality, travel, and consumer markets," concluded Mr. Beevis.

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.