MONTREAL, Oct. 24, 2016 /CNW Telbec/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX), announces that President and Chief Executive Officer, Joe Abbandonato, has returned following a temporary medical leave. The Corporation also announces that Mr. Abbandonato was recently interviewed by talk show host, Robert Scully, on the critically acclaimed program "Scully: The World Show – Entrepreneurs".
"I look forward to once again working with the Board and management team as we continue to strengthen and grow our business," said Joe Abbandonato. "On behalf of the Board, I would like to thank interim CEO, Tony Abbandonato, and the rest of the management team, all of whom excelled in their positions during my absence. The strength of any company is its people and I am supported by a solid team."
"During my leave, I remained actively engaged in all major corporate decisions and I believe we remain well placed to deliver sustained long-term growth going forward," highlighted Joe Abbandonato. "Work to ascertain the coating equipment requirements for our pioneering product, ADVASEAL, remains on track and we expect resolution around year-end 2016." As previously announced, a team of experts is currently determining the coating machine needed to permit a drying capacity of 1,000 feet per minute.
Joe Abbandonato featured on Scully: The World Show
Mr. Abbandonato was recently featured on "Scully: The World Show". The program conducts one-on-one interviews with some of the world's most significant and famous personalities, including Nobel laureates, world leaders, philanthropists, financiers and entrepreneurs. Each interview takes a comprehensive look into what makes these prominent people leaders within their field and their greater impact on the world. During the interview, Joe Abbandonato discussed the rise of Imaflex and what it means to be an entrepreneur. A replay of the show can be found on the investor section of Imaflex's website at: http://www.imaflex.com/Browse/Article/1447/events-and-presentations
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: Imaflex Contact: John Ripplinger, Vice-President Corporate Affairs, Tel: (514) 935-5710, Fax: (514) 935-0264, [email protected], www.imaflex.com