iFabric Engages Independent Trading Group for Market Making Services

Rhea-AI Summary

iFabric Corp. has engaged Independent Trading Group to provide market-making services on the Toronto Stock Exchange. This collaboration aims to enhance the liquidity and market presence of iFabric's shares, with services commencing on February 12, 2021. According to the Services Agreement, ITG will receive C$6,000 per month for an initial three-month term, followed by month-to-month renewals unless terminated with 30 days' notice. iFabric operates through subsidiaries providing performance and protective apparel, as well as ladies' intimate apparel.

Positive

• Engagement with ITG for market-making services can enhance liquidity for iFabric's shares.
• The agreement provides a structured approach with both initial and renewal terms, indicating long-term planning.

Negative

• Payment of C$6,000 per month may be seen as a fixed cost without immediate revenue returns.
• The dependence on a single market-making service could pose risks if ITG underperforms.

MARKHAM, ON / ACCESSWIRE / February 12, 2021 / iFabric Corp. (the "Company" or "iFabric") (TSX:IFA)(OTC PINK:IFABF) announced today that it has engaged Independent Trading Group (ITG), Inc. ("ITG") to provide market-making services on the Toronto Stock Exchange ("TSX") and other marketplaces, as applicable, in compliance with the policies and guidelines of the TSX and other applicable regulation. The objective is to maintain a reasonable market and improve the liquidity of the Common Shares.

Pursuant to the terms of a services agreement (the "Services Agreement"), ITG will receive compensation of C$6,000 per month (plus applicable taxes), payable on the first business day of each month, for an initial term of three months (the "Initial Term"), with services commencing on February 12, 2021. The Services Agreement will renew for subsequent one (1) month terms (each, an "Additional Term") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. The Services Agreement may be terminated by either party with 30 days' notice.

ABOUT iFABRIC CORP:

Headquartered in Markham, Ontario, iFabric Corp www.ifabriccorp.com is listed on the TSX and currently has 26.5 million shares issued and outstanding. Through its wholly owned subsidiaries, Intelligent Fabric Technologies (North America) Inc. ("IFTNA") and Coconut Grove Pads Inc. ("Coconut Grove"), the Company offers a variety of products and services in both of its strategic divisions:

IFTNA is focused on performance apparel, medical protective apparel, consumer protective apparel, as well as proprietary chemical formulations that render fabrics, foams, plastics, and numerous other surfaces intelligent, thereby improving the safety and well-being of the consumer.

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

FOR FURTHER INFORMATION, please contact:

Hilton Price, CFO
Tel: 647.465.6161
Email: hilton.price@rogers.com

Tina Byers - Investor Relations
Tel: 905.330.3275
Email: tina@adcap.ca

Gary Perkins - Investor Relations
Tel: 416.882.0020
Email: garyperkins@rogers.com

Jean-François Dubé (Québec) - Investor Relations
Tel: 514.233.9551
Email: jfdube@mac.com

Website: www.ifabriccorp.com
Website: http://www.ifabriccorp.com/

SOURCE: iFabric Corp.

View source version on accesswire.com:
https://www.accesswire.com/629540/iFabric-Engages-Independent-Trading-Group-for-Market-Making-Services

FAQ

What is the purpose of iFabric engaging Independent Trading Group?

iFabric engaged Independent Trading Group to enhance market liquidity and maintain a reasonable market for its shares on the Toronto Stock Exchange.

How much will iFabric pay Independent Trading Group for their services?

iFabric will pay Independent Trading Group C$6,000 per month for market-making services.

When did iFabric's agreement with Independent Trading Group start?

The agreement with Independent Trading Group commenced on February 12, 2021.

What are the terms of the Services Agreement between iFabric and ITG?

The Services Agreement is for an initial term of three months, renewable month-to-month, with either party able to terminate with 30 days' written notice.

What kind of products does iFabric Corp. offer?

iFabric Corp. offers performance and medical protective apparel, chemical formulations for intelligent fabrics, and ladies' intimate apparel.