Mr. Hylton Karon reports

IFABRIC CORP. PROVIDES REVENUE FORECAST FOR FISCAL 2024, DRIVEN BY ADDITIONAL CUSTOMER PROGRAMS AND NEW PERFORMANCE-APPAREL CATEGORIES.

iFabric Corp. has provided a preliminary revenue outlook for fiscal 2024, showcasing a promising sales trajectory marked by customer relationship expansions and broadening of its range of product offerings.

"I am thrilled to announce iFabric's has secured new performance apparel programs with three national-level retailers based in the United States. These programs are poised to significantly bolster our company's revenues," stated Hylton Karon, president and chief executive officer of iFabric. "Specifically, these initiatives will increase revenue in 2024, taking our full-year sales to the range of $28- to $32-million," continued Mr. Karon.

"Our fiscal 2024, now ending Dec. 31, will also witness the introduction of performance apparel programs in clothing categories that are new to iFabric, reinforcing our company's position as an industry leader in innovative textile solutions. Specifics of these new programs are targeted to be disclosed across 2024 and in co-operation with our customers. Strategically, iFabric is focused on increasing our penetration of the United States market in 2024, laying the groundwork for continuing sales and earnings growth in 2025," continued Mr. Karon.

"We welcome the continuing expansion of iFabric's range of performance apparel programs," noted Mr. Karon. "It now includes industry-leading products in the areas of medical scrubs, lab coats, rainwear, swimwear, underwear, activewear and more. Based on their superior properties, we are gratified to see the successful integration of our company's textile technologies into a number of the world's best brands and their performance apparel offerings. iFabric will continue its relentless pursuit of innovation and stay resolute in delivering cutting-edge textile solutions that resonate strongly with the buying public, driving our continuing growth," concluded Mr. Karon.

About iFabric Corp.

Headquartered in Markham, Ont., iFabric is listed on the Toronto Stock Exchange and currently has 30.3 million shares issued and outstanding. Its two strategic divisions offer a variety of products and services through wholly owned subsidiaries, namely, Intelligent Fabric Technologies (North America) Inc. (IFTNA) and Coconut Grove Pads Inc.

IFTNA is focused on the development and sale of high performance sports apparel, medical protective apparel, consumer protective apparel, and proprietary treatments that provide intelligent properties to fabrics, foams, plastics and numerous other surfaces, thereby improving the safety and well-being of the user. Such intelligent properties include anti-viral and anti-bacterial characteristics, water repellence, and UV (ultraviolet) protection, among others.

Coconut Grove, operating as Coconut Grove Intimates, is a designer, manufacturer, distributor, licensor and licensee of ladies intimate apparel products and accessories.

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