MARKHAM, ONTARIO--(Marketwire - June 19, 2012) - IFABRIC CORP. (TSX VENTURE:IFA) ("iFabric" or the "Corporation") announces, further to its news release dated June 08, 2012, that as partial consideration for PI Financial Corp. ("PI Financial") acting as sponsor in connection with the Corporation's Qualifying Transaction, the Corporation shall issue 200,000 compensation warrants to PI Financial. Each such compensation warrant entitles PI Financial to acquire one common share of the Corporation at a price of $0.50, exercisable for a period of two years from June 6, 2012.
iFabric, through its wholly-owned subsidiary, Coconut Grove, an Ontario corporation, is in the business of designing and manufacturing women's intimate apparel and, in particular, a range of specialty bras including the Corporation's patented backless, strapless underwire bra. The Corporation also distributes a range of complimenting accessories. iFabric's customer base includes a number of major retailers situate in its main market regions being, the UK, USA and Canada. Another division of Coconut Grove, Intelligent Fabric Technologies (North America) Inc., is in the business of distributing a range of specialty textiles as well as a number of chemical products that are suitable for application to textiles.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.