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SOURCE Imaflex Inc.
First-In-Class Active Ingredient Releasing Film Moving Closer to Market
MONTREAL, Feb. 18, 2014 /CNW Telbec/ - Imaflex Inc. (TSXV: IFX) ("Imaflex" or the "Corporation") is pleased to announce the successful completion of repeatable pilot production and analytical characterization of the first herbicidal pre-formulation for its novel crop protection active ingredient releasing agricultural films. The pre-formulation contains an herbicide optimally dispersed in a water-soluble, biodegradable carrier polymer. Organic trace analysis, performed by an independent Contract Research Organization (CRO) experienced with the high standards for the registration of plant protection products, demonstrated that Imaflex's pre-formulation meets the Environmental Protection Agency (EPA) requirements for process and product stability.
The pre-formulation once incorporated with Imaflex's agricultural films, will create a new class of plant protection products, capable of delivering active ingredients in a more cost effective, labour efficient, and environmentally sustainable way compared to today's conventional spray application methods.
"This marked a crucial step forward in the development of our first commercial active ingredient releasing agricultural film," commented Ralf Dujardin, Imaflex's Vice President Marketing and Innovation. "I would particularly like to thank our engineering and the CRO team, who together have mastered the challenge of developing advanced analytical methods for this new class of product. Based on the high accuracy and reliability of these methods, we now have the necessary data to enter into the final stage of field testing in order to complete the application for authorization as a plant protection product by EPA."
Imaflex is now using the qualified pre-formulation in the manufacturing of its herbicide releasing Can-Shield films. These films will undergo similar rigorous analytical characterization as have been reported here for the pre-formulation. The company will report the results from the film tests shortly.
"Our herbicidal releasing film will be the first of a pipeline of active ingredient releasing agricultural films we anticipate developing and bringing to market," commented Joseph Abbandonato, President and CEO of Imaflex. "This new class of product will have a profound impact on how fruit and vegetables are grown across the globe."
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.
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. 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.
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