Mr. Joseph Fearn reports

FAB-FORM ANNOUNCES THE FIRST ICF STEP 5 DEVELOPMENT IN BC

Fab-Form Industries Ltd. has delivered insulated concrete forms (ICF) for a 280-unit net-zero project in Squamish, B.C. This project is significant as it is the first to be built under the new Step 5 building code (net zero) of British Columbia.

The B.C. government initiated the Step 5 building code in an effort to reduce the environmental footprint of housing: Each unit will produce as much energy as it consumes. The use of ICF in a project of this size could result in significant revenue over the anticipated two-year buildout. Revenue will be recognized as the product is delivered.

To achieve these strict energy standards, the developers will use ICF and Fab-Form proprietary technologies. Given the provincial mandate to require all new homes in B.C. to meet Step Code 5 by 2030, these projects demonstrate future sales potential for Fab-Form.

"We have always pursued the development of technologies that create sustainable future value, but also drive a tangible environmental impact. Witnessing the turning of the tide in construction is an exciting time for us, and we look forward to the future," said Joseph Fearn, Fab-Form chief operating officer.

We seek Safe Harbor.