Imaflex Announces Grant of Options

MONTRÉAL, May 31, 2023 /CNW/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX), announces that it has granted a total of 1,650,000 stock options (the "Options") to two employees of the Corporation. The options are convertible into an equal amount of common shares of the Corporation for a period of five (5) years from the date of grant of the Options. One quarter of the Options vest immediately upon grant with an additional quarter vesting every six-month period thereafter. The Options are granted as of May 30, 2023 at an exercise price of $1.25 per common share until May 30, 2028.

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.

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.