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Imaflex Inc.

Exchange: TSXV Exchange | Apr 29, 2017, 1:30 AM EDT

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Imaflex Receives Additional CDN $2.3 Million Order from Major Citrus Producer
Imaflex Receives Additional CDN $2.3 Million Order from Major Citrus Producer

Canada NewsWire

  • Additional follow-on order for Shine N' Ripe XL Citrus Film
  • Further positions Imaflex in the multi-million dollar citrus film market
  • Validates benefits Shine N' Ripe XL brings citrus growers worldwide in crop protection, tree growth and yield enhancement

MONTREAL, Feb. 27, 2017 /CNW Telbec/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSX-V: IFX), announces that it has received an additional CDN $2.3 million follow-on order for Shine N' Ripe XL, a heavy-duty, metalized agricultural film developed to reduce the onset of citrus greening.  Today's announcement brings the total orders received from this grower to CDN $3.3 million, all of which will be fulfilled during 2017. 

"This second major order, from one of the world's largest orange juice producers represents another notable sales win for Imaflex and provides additional validation of the unique benefits Shine N' Ripe brings to citrus growers worldwide," highlighted Mr. Joe Abbandonato, President and Chief Executive Officer of Imaflex.  "Imaflex is currently the only company with independent, long-term field trials proving that its long-lasting metalized film effectively reduces the early onset of citrus greening, while also accelerating tree growth and increasing yield." 

About Shine N' Ripe XL
Shine N' Ripe XL is a highly-reflective, long-lasting, metalized agricultural film developed in-house by Imaflex to fight citrus greening (HLB), a bacterial disease transmitted by the insect Asian Citrus Psyllid (ACP) while feeding on citrus trees.  It is scientifically proven that Shine N' Ripe XL is more efficient and economically viable than common insecticides alone in fighting HLB.

Shine N' Ripe XL unique characteristics allows it to reflect the complete spectrum of sunlight at full strength and in a way that distracts ACP from citrus trees, accelerates tree growth and increases yields.  The proprietary anti-corrosion coating maintains Shine N' Ripe XL high-reflectivity for 3 or more years, while its advanced plastic film structure better controls weeds, and brings water preservation benefits, making it the most economically viable tool for currently managing citrus greening.

About Imaflex Inc.
Founded in 1994, Imaflex is focused on the development and manufacturing of innovative solutions for the flexible packaging and agriculture industries.  The Corporation's products consist primarily of polyethylene (plastic) film and bags, including metalized plastic film, for the consumer, industrial and agriculture markets.   Headquartered in Montreal, Quebec, Imaflex has manufacturing facilities in Canada and the United States.  The Corporation's common stock is listed on the TSX Venture Exchange under the ticker symbol IFX.  Additional information is available at www.imaflex.com.

Cautionary Statement on Forward Looking Information
Certain information included in this press release constitutes "forward-looking" statements within the meaning of Canadian securities laws.  Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the management of the Corporation, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies.  The Corporation cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Imaflex to be materially different from the Corporation's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance.  These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Corporation's most recent Management Discussion and Analysis filed on SEDAR at www.sedar.com and on the investor section of the Corporation's website at www.imaflex.com.  The Corporation disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law.  Readers are cautioned not to put undue reliance on these forward-looking statements.

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.

 

SOURCE Imaflex Inc.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2017/27/c6625.html

Imaflex Contact: John Ripplinger, Vice-President Corporate Affairs, Tel: (514) 935-5710, Fax: (514) 935-0264, johnr@imaflex.com, www.imaflex.comCopyright CNW Group 2017

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