Imaflex Completes Leadership Transition

Stephan Yazedjian Officially Joins as President & CEO

MONTRÉAL , Oct. 28, 2024 /CNW/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX) is pleased to announce that Stephan Yazedjian has officially assumed his role as President and Chief Executive Officer, effective immediately.  This marks an important milestone in the Corporation's ongoing growth journey.  Outgoing President and CEO, Mr. Joe Abbandonato , will move to Executive Chairman of Imaflex, ensuring a smooth leadership transition. 

As previously announced, Mr. Yazedjian brings over 30 years of global leadership experience transforming businesses across diverse industries, including manufacturing, consumer goods and more. His proven track record of driving profitable growth and elevating companies to new heights positions Imaflex for its next phase of success.

"I'm excited to officially join Imaflex," said Mr. Yazedjian.  "I look forward to working with the Board, leadership team, and employees to drive growth and build on the solid foundation already in place."

Prior to joining Imaflex, Mr. Yazedjian held executive roles at Fantuan, Reinsurance Group of America, United Gulf Steel, and Mecachrome. He holds an MBA and a Bachelor of Commerce from McGill University and is a Certified Public Accountant (CPA - USA ) and Chartered Professional Accountant (CPA - Canada ).

"The Board of Directors and leadership team are confident that Mr. Yazedjian's experience and drive will further strengthen Imaflex's position and contribute to its ongoing success," concluded Mr. Abbandonato.  

About Imaflex Inc.

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 atwww.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  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.