iFabric Corp. (TSX:IFA)(OTC:IFABF) subsidiary Intelligent Fabric Technologies (North America) Inc. (IFTNA) executed a license agreement with Roots Corporation (TSX:ROOT). The financial terms were not disclosed.
The agreement grants IFTNA the right to use the Roots trademarks to manufacture and sell men's, women's, and children's swimwear to Roots-approved merchants and distribution channels, including Roots stores.
All products distributed under the terms of the license will be designed and manufactured by IFTNA and showcase several of IFTNA's textile technologies.
Price Action: IFA shares are trading higher by 14.20% at C$2.01 on TSX, and IFABF is higher by 0.84% at $1.62 on the last check Tuesday.
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