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    IFX   CA4524352099

IMAFLEX INC.

(IFX)
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Imaflex : Announces that the ADVASEAL« Release Study is Underway

10/08/2020 | 07:01am EST

Independent trial results expected for November 2020

MONTREAL, Oct. 8, 2020 /CNW Telbec/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX), announces that the ADVASEAL® Release Study is underway.

"The positive results for our recently announced Efficacy Trial permits us to proceed with the last and most comprehensive study required for the U.S. Environmental Protection Agency (EPA) registration package," said Mr. Joe Abbandonato, President and Chief Executive Officer of Imaflex.  The Release Study will determine the exact timing each chemical is released into the soil from ADVASEAL®.  This is required to show compliance with the pre-harvest interval established by the EPA, which is essentially the wait time required between the last application of crop protection products and when a crop can be harvested for safe human consumption. 

"We expect that the independent trial results for the Release Study will be available in November 2020.  This should allow us to submit the EPA registration package around year-end 2020."  The EPA review process can take anywhere up to a year to complete. 

About ADVASEAL®  
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® (ADVASEAL® HSM), contained only a herbicide for weed control.  The new enhanced ADVASEAL® (also called "ADVASEAL HG") under development 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 crop protection products are incorporated into a coating, which is then applied to a mulch film.  Once the coated film is applied to the ground, the active ingredients are released into the soil under controlled conditions, preventing the over/under-dosing found with current soil disinfestation practices.  This new technology dramatically reduces the amount of 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. 

In September 2020, Imaflex announced positive results for an Efficacy Trial.  ADVASEAL® was shown to be a viable soil fumigation alternative to the current best grower practice of using fumigants to improve yields of field grown vegetables.  The independent report for the Efficacy Trial can be found on the "Events and Presentations" page of Imaflex's website at: https://www.imaflex.com/English/news-and-events/events-and-presentations/.

About Imaflex Inc.
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.

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 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.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2021 108 M 84,2 M 84,2 M
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 69,2 M 54,0 M 53,9 M
Capi. / Sales 2021 0,64x
Capi. / Sales 2022 0,67x
Nbr of Employees 218
Free-Float 54,2%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 1
Last Close Price 1,34 CAD
Average target price 1,75 CAD
Spread / Average Target 30,6%
Managers and Directors
Joseph Abbandonato Chairman, President & Chief Executive Officer
Giancarlo Santella Chief Financial Officer
Gerald R. Phelps Vice President-Operations
Michel Baril Independent Director
Philip Nolan Independent Director
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