IBEX Reports Management Change

MONTREAL, Sept. 30, 2020 (GLOBE NEWSWIRE) -- IBEX Technologies Inc. ("IBEX" or the "Company") (TSX Venture: IBT) is pleased to announce that Belinda Franco, CPA, CA has joined IBEX and will become Director of Finance and Chief Financial Officer.

"Belinda brings a wealth of experience to the role and will be a valuable addition to the management team" said Paul Baehr, IBEX President & CEO. "Belinda will work with Richard Collin, our Director of Finance and Chief Financial Officer, during a transition period and will replace Richard after we complete our audited financial statements for the fiscal year ended July 31, 2020", added Mr. Baehr.

ABOUT IBEX

IBEX, an ISO 13485 certified company, manufactures and markets proteins for use in medical devices and research. IBEX also performs custom manufacturing of diagnostic reagents for major diagnostic companies.

For more information, please visit the Company's website at www.ibex.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Safe Harbor Statement

All of the statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, are forward-looking statements. Such statements, as they are based on the current assessment or expectations of management, inherently involve numerous risks and uncertainties, known and unknown. Some examples of known risks are: the impact of general economic conditions, general conditions in the pharmaceutical industry, changes in the regulatory environment in the jurisdictions in which IBEX does business, stock market volatility, fluctuations in costs, and changes to the competitive environment due to consolidation or otherwise. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. IBEX disclaims any intention or obligation to update these statements, except if required by applicable laws.

In addition to the risk factors identified above, IBEX is, and has been in the past, heavily reliant on three products and five customers, the loss of any of which could have a material effect on its profitability.

Contact:

Paul Baehr
President & CEO
IBEX Technologies Inc.
514-344-4004 x 143