Imaflex Announces the Appointment of Roberto Longo as Director

MONTRÉAL, April 12, 2022 /CNW Telbec/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX), announces the appointment of Roberto Longo to the Corporation's Board of Directors (the "Board"), where he will also Chair the Audit Committee. The appointment of Mr. Longo, which is effective immediately, increases the size of the Board from six to seven directors, five of which are considered independent. Mr. Longo succeeds Mario Settino, who resigned from the Corporation and Chair of the Audit Committee earlier this year following his employment by another company operating in the flexible packaging space.

"I would like to welcome Roberto to the Board," said Mr. Joe Abbandonato, President and Chief Executive Officer of Imaflex. "His range of executive, financial, and professional experience, including knowledge of the plastics industry, will contribute to our ongoing success as we move forward with our growth initiatives.  Roberto brings fresh perspectives, while strengthening and complimenting the experiences of our incumbent Board."  

Mr. Longo is an experienced executive with over 25 years of financial and management experience in manufacturing, retail and distribution. He is currently Chief Financial Officer of Maroline and previously Vice President of Finance of Tribal Sportswear General Partnership and Imaflex Inc. He was also a Faculty Lecturer at McGill University's Desautels Faculty of Management Chartered Accountancy Program. Mr. Longo is a chartered professional accountant who began his career at KPMG. He holds a Graduate Diploma in Public Accountancy and Bachelor of Commerce in Finance/Accounting from McGill University.

About Imaflex Inc.
Founded in 1994, Imaflex is focused on the development and manufacturing of innovative solutions for the flexible packaging and agriculture industries. The Corporation's products consist primarily of polyethylene (plastic) film and bags, including metalized plastic film, for the consumer, industrial and agriculture 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 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