Company Announcements

Highlights

• Ensures strong intellectual property protection until 2041
• Secures patent for environmentally friendly soil disinfestation material 

MONTRÉAL , June 6, 2024 /CNW/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX) today announced the issuance of U.S. Patent No. 11,992,009¹ by the United States Patent and Trademark Office ("USPTO") for Imaflex's novel "Pesticide-containing Soil Disinfestation Material Without Use of Fumigant" ("ADVASEAL®").  

This patent, valid until 2041, further recognizes Imaflex's revolutionary soil treatment that eliminates the need for harmful fumigants.   ADVASEAL® effectively disinfects the soil while minimizing the environmental impact, offering a more sustainable approach to agricultural practices.

"We are pleased to receive this patent from the USPTO, which ensures strong intellectual property protection for many years to come" said Mr. Joe Abbandonato, President and Chief Executive Officer of Imaflex.  "This recognition underscores our commitment to developing innovative solutions that address the needs of the agricultural industry while promoting environmental responsibility.  We are confident that ADVASEAL® could play a significant role in promoting sustainable agricultural practices, and we are actively working to bring this product to market as soon as possible."

Key Features of ADVASEAL®

• Eliminates Fumigant Use: Displaces the need for traditional soil fumigants, which can be harmful to the environment and human health.
• Effective Disinfestation: Provides pre-plant soil disinfestation without the use of soil fumigants, promoting healthy crop growth.
• Sustainable Approach: Represents a significant step towards more sustainable agricultural practices.
• Lower Pesticide Rates and Fewer Application Steps: Compared to traditional methods, ADVASEAL® requires substantially less pesticides.  Furthermore, the streamlined application process of the new material may lead to reduced costs for farmers in terms of materials and labour.

U.S. Environmental Protection Agency ("EPA")

Imaflex must secure U.S. Environmental Protection Agency ("EPA") approval of ADVASEAL®, the final major regulatory hurdle before bringing this innovative product to market.  As is typical with the EPA's review process, no specific timeline for a decision has been given.  Although it is taking longer than the Corporation originally expected, we are confident that it will be approved.  We will continue to provide updates as information becomes available.

About ADVASEAL®  

Today, agricultural films are used in the growing of fresh fruits and 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") 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.    

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.sedarplus.ca 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.