MONTRÉAL, Nov. 7, 2022 /CNW Telbec/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX) announces that it has submitted the ADVASEAL HG® (ADVASEAL®) registration package to the U.S. Environmental Protection Agency (EPA) for approval as a new physical pesticide formulation. In conjunction with this, the Corporation submitted the required active ingredient (TGAI1) registrations for approval as generic pesticides for use in the manufacturing of ADVASEAL®.
Today's news follows the successful completion of two previously announced independent field trials – the Efficacy Trial and the Release Study – which respectively demonstrated the efficacy and safety of ADVASEAL® as a pre-plant soil fumigant replacement. "If approved, ADVASEAL® will provide fruit and vegetable growers with a more efficient, less costly, and more ecologically friendly delivery platform of pre-plant crop protection products," highlighted Mr. Joe Abbandonato, President and Chief Executive Officer of Imaflex.
The required active ingredient rates using ADVASEAL® are more than 95% lower than the current labeled fumigant rates per acre and the exposure to emissions and pesticide drift is almost eliminated for applicators and bystanders. "With a heightened global move towards more sustainable practices, ADVASEAL® offers considerable market opportunity, along with crop protection profitability margins," continued Mr. Abbandonato.
Management believes the EPA registration process will be positive as the generic pesticides to be used in ADVASEAL® are effectively used by growers today. As well, the Corporation previously received EPA approval of an herbicidal active ingredient release film, ADVASEAL® HSM.
1 A technical grade active ingredient ("TGAI") is used for the manufacturing of pesticide end-use products and contains, in addition to the pure active ingredient, minor amounts of impurities.
Today, agricultural films are used in the growing of vegetables worldwide to cover soil treated with fumigants – volatile and toxic pesticides essential for reducing pests, weeds and fungi in the soil, thus supporting good growth of new crop seedlings.
The original EPA approved ADVASEAL® HSM, contained only an herbicide for weed control. The new enhanced ADVASEAL HG® (ADVASEAL®) also includes fungicides and a nematicide to control soil borne pathogens, thus becoming a complete non-fumigant alternative for soil disinfestation. With ADVASEAL®, modern non-volatile crop protection products can be applied more effectively and safely than with fumigants. The active ingredients are incorporated into a coating, which is then applied to a mulch film. Once the coated film is applied to the ground, the crop protection products are released into the soil under controlled conditions. This new technology dramatically reduces the amount of pre-plant crop protection products required. The catalyst to trigger the release of the active ingredients is soil moisture. When the film is applied to the soil, they are efficiently and safely discharged into the ground, resulting in heightened productivity, lower costs and notable environmental benefits.
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.
CautionaryStatement 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.
Neitherthe 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.