Mr. Hylton Karon reports

IFABRIC CORP. ANNOUNCES FIFTH CONSECUTIVE YEAR OF REVENUE GROWTH

iFabric Corp. has had its fifth consecutive year of revenue growth, with the past two years each reflecting strong, double-digit increases.

Full-year 2024 was another record-setting year, with revenues of greater than $27-million. While up by 20 per cent over the prior 12 months, full-year 2024 revenues were under $1-million below management's targeted range due to the strike at the Port of Vancouver, which impacted fourth quarter deliveries. Even with the port strike, Q4 2024 revenue was the largest single-quarter performance in iFabric's history, and all delayed products will be shipped in Q1 2025.

As a profitable and growing firm, iFabric continues to broaden its market footprint, and its forward-looking strategy remains focused on developing cutting-edge apparel solutions and enhancing its product lines. The coming year of 2025 is expected to be another period of robust growth as iFabric's new product initiatives, combined with its solid core programs, position the company to achieve continued revenue and profit gains in 2025.

"We are extremely proud of our consistent track record of growth, and our results underscore the strength of our team and the trust our customers place in us," said Hylton Karon, chief executive officer of iFabric. "As we head into 2025, we are confident that our ever-increasing momentum will carry us forward, particularly as we expand our product portfolio and reach new markets. With strong operational execution, we're positioned for another record year," 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 innovative products and services through wholly owned subsidiaries, namely Intelligent Fabric Technologies (North America) Inc. (IFTNA) and Coconut Grove Pads Inc.

IFTNA is focused on 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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