Early Warning Press Release - Hylton Karon Announces Disposition of Common Shares of iFabric Corp.

Hylton Karon, a major shareholder of iFabric Corp (TSX: IFA, OTC: IFABF), sold 1,210,935 common shares on June 5, 2026 at $3.70 per share for total proceeds of CAD$4,480,459.50.

Rhea-AI Summary

Hylton Karon, a major shareholder of iFabric Corp (TSX: IFA, OTC: IFABF), sold 1,210,935 common shares on June 5, 2026 at $3.70 per share for total proceeds of CAD$4,480,459.50.

His partially diluted ownership decreased from 63.1% (19,047,285 shares plus 200,000 options) to 49.3% (17,836,350 shares plus 200,000 options). The shares were sold for personal financial reasons, and he may trade iFabric securities in the future subject to applicable laws.

Positive

• Controlling shareholder retains 17,836,350 shares plus 200,000 options, or 49.3% partially diluted
• Secondary offering at $3.70 per share provides pricing reference for recent market demand
• Share sale by major holder increases potential public float and trading liquidity

Negative

• Major shareholder disposed of 1,210,935 shares for CAD$4.48 million
• Ownership concentration decreased from 63.1% to 49.3% on a partially diluted basis
• Early warning filing signals a 13.8% reduction in major holder’s stake

Argus Jun 23 session

+2.38% close to close Open Argus

Details

News Market Reaction – IFABF

On Jun 23, the first trading day after this news, IFABF closed 2.38% above the previous close.

Data tracked by StockTitan Argus for the Jun 23 session.

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Toronto, Ontario--(Newsfile Corp. - June 22, 2026) - Hylton Karon (the "Reporting Person") announces that, on June 5, 2026, he disposed of an aggregate of 1,210,935 common shares in the capital of iFabric Corp. (TSX: IFA) ("iFabric" or the "Issuer") pursuant to a secondary offering under a short form prospectus for consideration of $3.70 per common share and aggregate consideration of CAD$4,480,459.50 (the "Disposition").

Immediately prior to the Disposition, the Reporting Person held 19,047,285 common shares and 200,000 options of the Issuer, representing approximately 63.1% of iFabric's issued and outstanding common shares on a partially diluted basis, assuming exercise of the options held by the Reporting Person.

After giving effect to the Disposition, the Reporting Person holds 17,836,350 common shares and 200,000 options of the Issuer, representing approximately 49.3% of iFabric's issued and outstanding common shares on a partially diluted basis, assuming exercise of the options held by the Reporting Person. The Disposition represents a decrease of approximately 13.8% in the Reporting Person's holdings of iFabric's common shares on a partially diluted basis. The common shares are held by the Reporting Person for investment purposes, and the common shares were disposed of for personal financial reasons. The Reporting Person may acquire or dispose of additional securities of the Issuer in the future depending on market prices and provided such acquisitions may be completed in accordance with applicable securities laws. A copy of the Early Warning Report has been filed on www.sedarplus.ca.

The head office of the Issuer is located at 525 Denison Street, Unit 1, Markham, Ontario L3R 2A2. The Reporting Person's address is 525 Denison Street, Unit 1, Markham, Ontario L3R 2A2.

For further information, please contact:

Hylton Karon
Telephone: 905.752.0566
Email: info@ifabriccorp.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302491

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Hylton Karon announce about his iFabric (IFABF) shareholding on June 22, 2026?

Hylton Karon announced he sold 1,210,935 iFabric common shares on June 5, 2026. According to the reporting person, the sale was through a secondary offering at $3.70 per share, reducing his partially diluted ownership percentage in the company.

How many iFabric (IFABF) shares did Hylton Karon own before and after the June 2026 disposition?

Before the sale, Hylton Karon held 19,047,285 shares and 200,000 options. According to the filing, after disposing of 1,210,935 shares, he owns 17,836,350 shares plus the same 200,000 options, changing his partially diluted ownership stake in iFabric.

At what price did Hylton Karon sell his iFabric (IFABF) shares and what were the total proceeds?

He sold the iFabric common shares at $3.70 per share for CAD$4,480,459.50. According to the reporting person, this transaction was completed via a secondary offering under a short form prospectus on June 5, 2026.

How did Hylton Karon’s percentage ownership in iFabric (IFABF) change after the June 2026 transaction?

His partially diluted ownership decreased from approximately 63.1% to 49.3% after the share sale. According to the disclosure, this reflects a 13.8% reduction in his holdings of iFabric’s issued and outstanding common shares on a partially diluted basis.

Why did Hylton Karon sell iFabric (IFABF) shares, and could he trade more in the future?

The shares were sold for personal financial reasons, according to the reporting person. He also indicated he may acquire or dispose of additional iFabric securities in the future, depending on market prices and applicable securities laws.

Where can investors find the early warning report related to the iFabric (IFABF) share disposition?

Investors can access the early warning report on the SEDAR+ website. According to the disclosure, the report provides further details on the June 5, 2026 share disposition and Hylton Karon’s resulting ownership position in iFabric.