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Imaflex Provides Update on Impact of Coronavirus

Press Release from Imaflex Inc.

  • All plants are currently fully operational and running at normal business levels
  • Imaflex considered an essential vendor in both Canada and the United States

MONTREAL, March 25, 2020 /CNW Telbec/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX), provides an update on the impact of the coronavirus (COVID-19) on its operations.

The Corporation has manufacturing operations in both Canada and the United States, including two plants in Quebec and one in North Carolina. At this time, all plants are fully operational and running at normal business levels. Presently, each of the Corporation's manufacturing facilities have the ability to take on more volume should it be required due to business interruption at another plant or heightened order flow. Furthermore, Imaflex has experienced no delays with its suppliers to date. This said, the Corporation is monitoring developments closely and will provide further updates should the impact on its operations change materially.

"Imaflex is a major supplier of packaging material to protect and preserve food and consumer products, such as sanitizing wipes, and our customers depend on us to maintain their supply chain," highlighted Mr. Joe Abbandonato, President and Chief Executive Officer of Imaflex. "The essential role packaging plays in protecting contents from microbiological contamination couldn't be greater in today's environment. Due to this, Imaflex is considered an essential vendor in both Canada and the United States."

"The health and safety of our employees and customers is of utmost importance and we have implemented prevention procedures throughout our business," continued Mr. Abbandonato. This includes, heightened cleaning and disinfecting of surfaces, limiting access to Imaflex facilities, maintaining social distances, working remotely or staggering work hours whenever possible, promoting health and hygiene and following government health recommendations and directives.

About Imaflex Inc.
Founded in 1994, Imaflex is focused on the development and manufacturing of innovative solutions for the flexible packaging space. Concurrently, the Corporation develops and manufactures films for the agriculture industry. The Corporation's products consist primarily of polyethylene (plastic) film and bags, including metalized plastic film, for the industrial, agricultural and consumer 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 the 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.

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