iFabric Corp Secures Full Ownership of Markham Property and Expands Credit Facility

An update from iFabric ( (TSE:IFA) ) is now available.

iFabric Corp has acquired the remaining 25% stake in its subsidiary that owns the Markham warehouse property, fully consolidating its control over the asset. This acquisition, funded by a Cdn$3.7 million mortgage from BMO, also allows iFabric to repay existing loans and remove previous borrowing restrictions. Additionally, iFabric has signed a new banking agreement with BMO, increasing its revolving credit facility from $6.75 million to $12 million. This expanded credit line, secured by company assets, provides iFabric with greater financial flexibility to support its growth and expansion plans.

Spark’s Take on TSE:IFA Stock

According to Spark, TipRanks’ AI Analyst, (TSE:IFA) is a Neutral.

iFabric Corp shows strong financial performance with robust revenue growth and improved profitability. Technical analysis suggests some caution as the stock trades below key moving averages. Valuation appears reasonable with a moderate P/E ratio. Significant corporate events, including record revenues and strategic investments, bolster future growth prospects. Overall, iFabric is well-positioned for continued success, though attention to improving cash flow conversion and technical trends would benefit the stock.

To see Spark’s full report on (TSE:IFA) stock, click here.

More about iFabric

iFabric Corp, headquartered in Markham, Ontario, operates through two strategic divisions: Intelligent Fabric Technologies (North America) Inc. and Coconut Grove Pads Inc. IFTNA focuses on high-performance sports and medical protective apparel, as well as consumer protective apparel with intelligent properties such as antiviral and antibacterial characteristics. Coconut Grove specializes in designing and distributing ladies’ intimate apparel products and accessories.

YTD Price Performance: -3.64%

Average Trading Volume: 13,383

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$32.12M

For an in-depth examination of IFA stock, go to TipRanks’ Stock Analysis page.