Imaflex Positions for Growth with the Appointment of New President and CEO

MONTRÉAL, QC, Sept. 23, 2024 /CNW/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX) announces the appointment of Mr. Stephan Yazedjian as President and CEO of the Corporation. Mr. Yazedjian joins Imaflex as of October 28, 2024.  Outgoing President and CEO, Mr. Joe Abbandonato, will move to Executive Chairman of Imaflex, ensuring a smooth leadership transition. 

"On behalf of the Board and Imaflex team, I am pleased to welcome Stephan," said Mr. Abbandonato.  "He brings a wealth of experience and a proven track record of driving growth in diverse industries.  With a strong business acumen and deep capital markets understanding, Stephan has spearheaded successful business transformations across a global landscape in manufacturing, consumer goods, financial services and more.  He brings the ideal skillset to drive Imaflex forward during this important phase of its growth."   

"I am excited to join Imaflex as we embark on this exciting new chapter," said Mr. Yazedjian.  "Prior to my appointment, I had the opportunity to meet with the board of directors and management teams throughout the Imaflex network.  I was impressed by the strong leadership, dedicated workforce, and commitment to innovation.  The Corporation has made important capital investments in recent years, and with the final equipment purchases coming online, I look forward to working with the team to unlock new opportunities for our stakeholders."

A multilingual leader, Mr. Yazedjian previously worked as Chief Financial Officer at Fantuan, Chief of staff & Advisor to the COO at Reinsurance Group of America (RGA Inc.), and Chief Restructuring Officer at United Gulf Steel Company Ltd.  Prior to this, he held senior positions with Mecachrome Inc., Scotia Capital, BMO Nesbitt Burns, and Ernst and Young (Corporate Finance). Additionally, Stephan has served in strategic advisory roles on several boards.

Mr. Yazedjian holds an MBA and a Bachelor of Commerce from McGill University.  He is a Certified Public Accountant (CPA - USA) and a Chartered Professional Accountant (CPA - Canada), as well as a member of the Ordre des Comptables Professionnels Agréés du Québec. Additionally, he was certified as a Chartered Business Valuator by the Canadian Institute of Chartered Business Valuators.

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 at www.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.

www.imaflex.com

SOURCE Imaflex Inc.

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