From the Wires
iFabric Corp. Receives EPA Registration for Cliniweave AV
By: Marketwired .
Dec. 6, 2012 12:05 AM
MARKHAM, ONTARIO -- (Marketwire) -- 12/06/12 -- iFabric Corp. (TSX VENTURE:IFA), hereinafter referred to as "iFabric" or the "Company", today announced that its wholly-owned subsidiary company, Intelligent Fabric Technologies (North America) Inc. ("IFTNA"), has received a second US Environmental Protection Agency ("EPA") registration, this time in respect of its Cliniweave ® antiviral technology.
"The cruise line industry is a clear target market for us with regard to our antiviral technology as onboard outbreaks of infection caused by the Norovirus have been well documented and well publicized in recent years, so we are viewing the receipt of this registration as another important milestone for our company" said Mr. Hylton Karon, President and CEO of iFabric. "Testing conducted by us at a top North American laboratory, of textiles impregnated with Cliniweave ® AV, have shown these textiles to be highly effective against Norovirus and could comprise one of the measures that could be employed by the cruise line industry in order to reduce instances of Norovirus infection" added Mr. Karon.
"In addition, the Center for Disease Control and Prevention, in Atlanta (the "CDC"), reports that there around 20,000,000 cases of Norovirus infection in the United States each year, leading to over 70,000 hospitalizations and 800 deaths http://www.cdc.gov/Features/Norovirus/ which, suggests that there may be a broad market opportunity for solutions geared towards diminishing this epidemic" concluded 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.
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