TICKER SYMBOL: IFX.A
MONTREAL, Jan. 19 /CNW Telbec/ - Imaflex Inc. (TSX Venture Exchange - IFX.A) is pleased to announce that it has signed a Consulting Agreement with MHP Recycling LLC who will act as consultants to Imaflex Inc. in various areas including production and sales advice regarding foam products, bag on roll and polyethylene and recycled materials, principally in the United States. The contract has been signed for an indeterminate term but can, under certain circumstances, be terminated by either party upon reasonable delay. In addition to consulting fees provided for under the Agreement, Imaflex Inc. has granted an option to MHP Recycling LLC to acquire 787,000 class A shares for a price of 0,25$ per share of Imaflex through December 31st, 2014.
Imaflex Inc. also wishes to advise its shareholders that effective January 1st, 2010, the Company amalgamated with its wholly-owned subsidiary Canslit Inc. in order to simplify future accounting and tax reporting as well as to operate in a more cost effective manner.
Certain statements and information included in this release constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's other public filings. Unless otherwise required by the securities authorities, we do not undertake to update any forward-looking statements that may be made from time to time by us or on our behalf.
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.
For further information: For further information: Imaflex Inc.: Joseph Abbandonato, President and C.E.O; Robert Nagy, CMA, CIA - Corporate Controller; (514) 935-5710, Fax: (514) 935-0264, firstname.lastname@example.org; www.imaflex.com