Imaflex Announces appointment of President and Chief Executive Officer

MONTRÉAL, May 30, 2023 /CNW/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX) today announced the appointment of Roger Tambay to the position of President and CEO of the Corporation. Mr. Tambay joins Imaflex and its Board of Directors with immediate effect. Outgoing President and CEO, Mr. Joe bbandonato, will remain as Executive Chairman of Imaflex, working closely with Mr. Tambay to ensure a smooth transition. 

Mr. Tambay brings over 30 years of global experience in the polymer and plastics industries with multinational, mid-market and early-stage companies. He is a subject matter expert in biopolymers and materials circularity. He is a driven, high achieving, fluently bilingual leader with a strong work ethic and diverse first-hand practical experience addressing a full scope of organization implications, including profit/loss, corporate and commercial development, operations and human resources management, research and development, strategy and legal.

"On behalf of the Board of Directors and Imaflex team, I am pleased to welcome Roger as the new President and CEO," said Mr. Abbandonato. "He is a business builder and leader with a unique set of education and experience, and an exceptional track record in the flexible plastics industry. With a proven track record of value creation and over 30 years of relevant industry experience in executive, operational and strategic advisory roles, Roger is well positioned to take Imaflex to new heights, building on our past accomplishments. We look forward to growing the Corporation with his fresh perspectives."

"I have followed Imaflex closely over the years and have been impressed by their lineup of innovative offerings, sound business fundamentals and solid growth opportunities," said Mr. Tambay. "I am excited about the opportunity to work with the team to further build on their growth strategies and deliver the full potential of the Corporation for all stakeholders."

Mr. Tambay was previously Founder and President of BioShur Inc., co-founder and Co-President of FilmOrganic and Vice-President and General Manager at Balcan Plastics. He also held several positions at Eastman Chemical in Canada and the United States. 

Mr. Tambay holds an MBA from Concordia University, a bachelor's degree of civil and common law (BCL and LLB) from McGill University, and a Bachelor of Science (Chemistry) from the Université de Montréal. He is a member of the Barreau du Québec (Québec Bar).

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.sedar.com 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.

Imaflex Contact: John Ripplinger, Vice-President Corporate Affairs, Tel: [phone] ext. 157, Fax: [phone], [email protected], www.imaflex.com