MONTREAL, May 18, 2017 /CNW Telbec/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSX-V: IFX), announces its slate of director nominees for election at its next Annual and Special Meeting ("ASM") of shareholders to be held on June 21, 2017. The slate is comprised of two new director nominees and five current directors.
Mario Settino and Lorne Steinberg will stand for election at the ASM as new Board of Director nominees and current directors, Joe Abbandonato, Tony Abbandonato, Michel Baril, Consolato Gattuso and Philip Nolan will stand for re-election.
New Director Nominees
"The new independent director candidates are highly qualified and experienced individuals that bring fresh perspectives to the Board," highlighted Joe Abbandonato, President and Chief Executive Officer and Chairman of Imaflex. "They are proven leaders with successful track records of value creation and a wide range of business experience that will contribute to successfully delivering on our growth strategies. We look forward to their sound counsel and guidance." A brief biography of each candidate follows:
Mr. Settino is a seasoned professional with over 30 years of financial and operational experience in various industries such as services, manufacturing and high-end technology. He is currently Chief Financial Officer of BioAmber and previously he was President and Chief Financial Officer of Peds Legwear, Chief Financial Officer of Miranda Technologies, Senior Vice President Finance of the Quebec division of Loblaws, Vice President Finance at Bombardier Aerospace and before this he was in a senior corporate development role with LGS, (an IBM company). Mr. Settino is a chartered professional accountant who began his career at Deloitte. He holds a Bachelor of Commerce from Concordia University and a Graduate Diploma in Accountancy from McGill University.
Mr. Steinberg is the founder of Lorne Steinberg Wealth Management, a firm providing investment counsel services to high net worth individuals, institutions and foundations. Previously, he was President and Chief Investment Officer of AGF's investment counsel business in Montreal, Magna Vista Investment Management and prior to this he worked at Lafferty, Harwood and Partners. Mr. Steinberg holds a Bachelor of Arts from McGill University and a Master of Business Administration from the Wharton School of the University of Pennsylvania. He is also a Chartered Financial Analyst (CFA).
In conjunction with these proposed additions, Giles Émond and Camillo Lisio will be retiring from Imaflex's board and will not stand for re-election. Mr. Lisio's departure is effective immediately. "On behalf of the Board, I'd like to acknowledge and thank our outgoing directors for their long service and substantial contributions to the Company over the years," concluded Mr. Abbandonato.
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.
For further information: John Ripplinger, Vice-President Corporate Affairs, Tel: (514) 935-5710 ext. 157, Fax: (514) 935-0264, [email protected], www.imaflex.com