|By Marketwired .||
|September 17, 2013 03:39 PM EDT||
MARKHAM, ONTARIO -- (Marketwired) -- 09/17/13 -- iFABRIC CORP. ("iFabric" or the "Company") (TSX VENTURE:IFA) - today announced that it has retained Tekkfund Capital Corp. ("Tekkfund Capital") to provide investor relations and corporate communications services. Tekkfund Capital has been retained for an initial term of three years, and will be responsible for investor communications, the dissemination of corporate data packages, investigating strategic business alliances and general corporate development consulting services. Tekkfund Capital is a Toronto-based investor relations and corporate development consulting firm owned by Gary Perkins. Mr. Perkins has been involved with investor relations and corporate development consulting for a variety of public companies trading on Canadian stock exchanges as well as numerous private companies. He will be providing the services on behalf of Tekkfund Capital.
In consideration of the investor relations services to be provided, the Company will grant Tekkfund Capital options to acquire up to 75,000 common shares of iFabric at an exercise price of $2.90 per share. The options will vest in three tranches of 25,000, with the first 25,000 options vesting immediately and subsequent tranches vesting on each of the next two anniversaries of the date of grant.
The appointment of Tekkfund Capital is also subject to certain requisite filings and approval by the TSX Venture Exchange.
ABOUT iFABRIC CORP.
iFABRIC is a manufacturer, distributor, licensor and licensee of ladies intimate apparel products and accessories as well proprietary chemical compounds that render fabrics intelligent, thereby improving the safety and well-being of the wearer. The Company currently has approximately 25.4 million shares issued and outstanding.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.