Imaflex Acquires Production and Business Assets in North Carolina through its Wholly-Owned Subsidiary Imaflex USA, Inc.

MONTREAL, March 2, 2012 /CNW Telbec/ - Imaflex Inc. (TSXV: IFX.A) ("Imaflex" or the "Corporation") is pleased to announce that it has completed the acquisition of certain production and business assets located in North Carolina through its wholly-owned subsidiary Imaflex USA, Inc.

Imaflex believes that the acquisition will be accretive to its earnings in 2012.

Terms of the transaction remain confidential but include a payment in either cash or shares on the second anniversary date of the transaction the whole at the option of the Vendor. The transaction, including the issuance of up to one million shares of Imaflex on the second anniversary date, remains subject to TSX Venture Exchange approval.

Neither 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.

Cautionary Statement on Forward Looking Information

Certain information included in this press release, including any information as to our future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking" statements within the meaning of Canadian securities laws. The words "expect", "believe", "will", "intend", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, 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. 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.

Imaflex Inc.
Joseph Abbandonato, President and C.E.O
Giancarlo Santella, CA - Corporate Controller
Tel: (514) 935 - 5710
Fax: (514) 935 - 0264
e-mail: [email protected]
Website: www.imaflex.com