SAINTE-ADÈLE, QC, May 9,
2013 /CNW Telbec/ - Joseph
Abbandonato ("Mr. Abbandonato" or the
"Offeror"), of 3475 Rolland Street, Sainte-Adèle, Québec,
J8B 1E1, announces, pursuant to Regulation 62-103 respecting
the Early Warning System and Related Take-Over Bid and Insider
Reporting Issues ("Regulation 62-103") that he
acquired, through a wholly-owned private corporation, Roncon
Consultants Inc., ownership of 1,000,000 common shares (each a
"Common Share") of Imaflex Inc. ("Imaflex") at a
price of $0.50 per Common Share
pursuant to a non-brokered private placement (the "private
placement") (representing 2.26 % of Imaflex's issued and
outstanding Common Shares).
Further to the private placement, Mr.
Abbandonato directly owns 10,684,810 Common Shares (representing
24.17 % of the issued and outstanding Common Shares).
Mr. Abbandonato directly and indirectly owns, through its
wholly-owned company, Roncon Consultants Inc., 13,936,805 Common
Shares (representing 31.53 % of the issued and outstanding
Common Shares) and 1,973,684 common share purchase warrants of
Imaflex (the "Offeror's Warrants") exercisable to
acquire 1,973,684 Common Shares. Should the Offeror's Warrants be
fully exercised, the Offeror's holdings, both directly and
indirectly, would represent 34.46 % of the issued and
outstanding Common Shares on a partially diluted basis.
The acquisition of 1,000,000 Common Shares was
carried out by way of private placement in accordance with and in
reliance on the "Accredited Investor" exemption in section 2.3 of
Regulation 45-106 respecting Prospectus and Registration
Exemptions.
The securities of Imaflex are held by Mr.
Abbandonato for investment purposes. Mr. Abbandonato expects to
review from time to time his investment in Imaflex and may,
depending on the market and other conditions: (i) acquire
securities or related financial instruments of Imaflex in the open
market, in privately negotiated transactions or otherwise, and/or
(ii) dispose of all or a portion of the securities or related
financial instruments of Imaflex over which he now or hereafter
exercises, or may be deemed to exercise, control or direction, or
owns.
Additional information is provided in the early
warning report filed on www.sedar.com by Mr. Abbandonato pursuant
to Regulation 62-103.
SOURCE Imaflex Inc.