Markham, Ontario--(Newsfile Corp. - June 5, 2026) - iFabric Corp. (TSX: IFA) ("iFabric" or the "Company") is pleased to announce that it has closed its previously announced upsized bought deal treasury offering and secondary offering (collectively, the "Offering") of common shares (the "Offered Shares") in the capital of the Company. The Offering was conducted by a syndicate of underwriters led by Beacon Securities Limited and including Stifel Canada, ATB Cormark Capital Markets, and Haywood Securities Inc. (the "Underwriters").

Pursuant to the Offering, the Company and the selling shareholders sold an aggregate of 7,568,900 Offered Shares at a price of $3.70 per Offered Share (the "Issue Price"), for aggregate gross proceeds of $28,004,930. The Offering consisted of a treasury offering by the Company of 6,216,900 Offered Shares (the "Treasury Shares"), including 810,900 Treasury Shares issued pursuant to the full exercise of the over-allotment option (the "Option"), for gross proceeds to the Company of $23,002,530, and a secondary offering by Hylton Karon and Susan Karon (the "Selling Shareholders") of an aggregate of 1,352,000 Offered Shares for aggregate gross proceeds to the Selling Shareholders of $5,002,400. The Company did not receive any proceeds from the Secondary Offering.

The Option was fully exercised by the Underwriters prior to closing. The Company intends to use the net proceeds from the Treasury Offering for working capital and general corporate purposes. For further details, please see the final prospectus in respect of the Offering filed on SEDAR+ under the Company's profile at www.sedarplus.ca.

The Treasury Shares were also offered by the Company in the United States to "qualified institutional buyers" (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")) and to a limited number of "accredited investors" (as defined in Rule 501(a) of Regulation D under the U.S. Securities Act), in each case by way of private placement pursuant to exemptions from the registration requirements of the U.S. Securities Act and in compliance with applicable state securities laws.

No securities regulatory authority has either approved or disapproved the contents of this press release. The securities referred to herein have not been and will not be registered under the U.S. Securities Act or any state securities laws and were not offered or sold in the United States except pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

About iFabric Corp:

Headquartered in Markham, Ontario, iFabric, www.ifabriccorp.com, is listed on the TSX 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. ("Coconut Grove").

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 antiviral and antibacterial characteristics, water-repellence and UV 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.

FORWARD-LOOKING STATEMENTS

This news release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical fact, included in this news release that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including the intended use of proceeds from the Treasury Offering and other such matters, is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions.

Investors are cautioned that forward-looking information is not based on historical fact but instead is based on reasonable assumptions and estimates of management of the Company at the time such information was made and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the use of proceeds from the Treasury Offering; the ability to raise additional funds; volatility of the market price for the Company's common shares generally; risk of dilution; as well as the risk factors described in the Company's annual information form dated March 30, 2026, the final prospectus in respect of the Offering, and other filings with the Canadian securities regulators available under the Company's profile on SEDAR+ at www.sedarplus.ca.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300298

Source: iFabric Corp.