iFabric Corp. Completes Private Placement and Secondary Offering

iFabric Corp. (TSX VENTURE:IFA) ("iFabric" or the "Company") announced today
that it has completed its previously announced best efforts treasury offering by
issuing 407,250 units (the "Units") at a price of $4.00 per Unit (the "Treasury
Offering") for gross proceeds of $1,629,000; and its previously announced best
efforts secondary offering through which Hylton Karon, President and CEO of the
Company sold 168,750 common shares in the capital of the Company (the "Common
Shares") at a price of $4.00 per Common Shares for gross proceeds of $675,000
(the "Secondary Offering", and together with the Treasury Offering, the
"Offering").


Each Unit consists of one Common Share and one half of one common share purchase
warrant (the "Warrants"). Each whole Warrant entitles the holder thereof to
acquire one Common Share at a price of $5.25 per Common Share for a period of 36
months from the date of issuance.


Following the closing of the Offering, Mr. Karon and his wife collectively own
19,431,250 Common Shares, representing approximately 76.3% of the outstanding
Common Shares.


The net proceeds from the Treasury Offering will be used by the Company for
general working capital purposes. The Company will not receive any of the
proceeds of the Secondary Offering.


"Given the company's strong working capital position, and the positive earnings
from the base business, the new capital raised is more than adequate to fund the
roll out of the antimicrobial intelligent fabric technology and also fund the
completion of the EPA approval process," stated Hilton Price, Chief Financial
Officer of iFabric.


All securities issued in the Treasury Offering will be subject to a hold period
of four months plus one day from the date of closing of the Offering.


The Offering was conducted through a syndicate of dealers bookrun by MGI
Securities Inc. as lead agent with a syndicate including Industrial Alliance
Securities (collectively, the "Agents").


The Agents received cash compensation of 7% of the gross proceeds raised under
the Treasury Offering, as well as compensation options ("Compensation Options")
entitling the Agents to subscribe for that number of Units that is equal to 7%
of the total number of Units sold pursuant to the Treasury Offering. Subject to
regulatory approval, each Compensation Option is exercisable for a period of 36
months following the closing of the Offering at an exercise price of $4.00 per
Unit. In connection with the Secondary Offering, the Agents received cash
compensation equaling 7% of the gross proceeds of the Secondary Offering.


The securities offered in the Offering have not been and will not be registered
under the U.S. Securities Act as amended, or any state securities laws, and may
not be offered or sold in the United States absent registration or an applicable
exemption from such registration requirements. This press release shall not
constitute an offer to sell, or the solicitation of an offer to buy the
securities in the United States or in any jurisdiction in which such offer, sale
or solicitation would be unlawful.


ABOUT iFABRIC CORP.: www.ifabriccorp.com

iFABRIC CORP., through its subsidiary companies, 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.


Forward-looking statements provide an opinion as to the effect of certain events
and trends on the business. Certain statements contained in this news release
constitute forward-looking statements. The use of any words such as
"anticipate", "continue", "estimate", "expect", "may", "will", "project",
"should", "believe" and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are based on
current expectations and various estimates, factors and assumptions and involve
known and unknown risks, uncertainties and other factors. Forward-looking
information includes, but is not limited to, statements with respect to the
development potential of the Company's products.


Forward-looking statements are based on the opinions and estimates of management
as of the date such statements are made. Readers are cautioned not to place
undue reliance on these statements as the Company's actual results, performance,
or achievements may differ materially from any future results, performance or
achievements expressed or implied by such forward-looking statements if known or
unknown risks, uncertainties or other factors affect the Company's business, or
if the Company's estimates or assumptions prove inaccurate. Therefore, the
Company cannot provide any assurance that forward-looking statements will
materialize. The Company assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or any other reason except as required by applicable securities laws.


Any financial outlook or future oriented financial information in this news
release, as defined by applicable securities legislation, has been approved by
management of iFabric. Such financial outlook or future oriented financial
information is provided for the purpose of providing information about
management's reasonable expectations as to the anticipated results of its
proposed business activities. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The forward-looking
statements contained in this press release are made as of the date hereof and
the Company undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.


Neither the TSXV nor its Regulations Services Provider (as that term is defined
in the policies of the TSXV) accepts responsibility for the adequacy or accuracy
of this press release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
iFabric Corp.
Hilton Price, CA
Chief Financial Officer
[phone] ext. 205
[e-mail]


iFabric Corp.
Gary Perkins
Investor Relations
[phone]
[e-mail]
www.ifabriccorp.com