IMAFLEX COMPLETES PRIVATE PLACEMENT

Stock Symbol: IFX.A

MONTREAL, June 6, 2011 /CNW Telbec/ -  Imaflex Inc. (TSXV: IFX.A) ("Imaflex" or the "Corporation") is pleased to announce that it has completed a non-brokered private placement (the "Offering") of 1,315,789 units (the "Units") at a price of $0,38 per Unit for gross proceeds of $500,000 as announced last March 2, 2011. Each Unit is comprised of one Class A share and one Class A share purchase warrant (each a "Warrant") entitling its holder thereof to acquire one additional Class A share of Imaflex at a price of $0.45 per Class A share until June 6, 2014. The subscription price of the Units represents a premium of nearly 90% in comparison with the closing price of the Corporation's securities, which have fluctuated in the range of $0.095 to $0.20 within the last 60 days.

Joseph Abbandonato, President and Chief Executive Officer of Imaflex, through a wholly-owned private corporation, is the sole purchaser of the securities issued pursuant to the Offering. Accordingly, his subscription constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons exceeds 25% of the Corporation's market capitalization.

The proceeds of the financing will be used for small capital expenditures and for working capital purposes.

The offering is being made on a private placement basis pursuant to registration and prospectus exemptions of applicable securities laws and is subject to acceptance by the Exchange. All securities issued in connection with the Offering are subject to a four-month and one day hold period.

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.

For further information:

Imaflex Inc.
Joseph Abbandonato, President and C.E.O
Giancarlo Santella, CA - Corporate Controller
Tel: (514) 935 - 5710
Fax: (514) 935 - 0264
e-mail: info@imaflex.com 
Website: www.imaflex.com

Profil de l'entreprise

IMAFLEX INC.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.