Bullboard - Stock Discussion Forum Imaflex Inc V.IFX

Alternate Symbol(s): IFLXF

Imaflex Inc. is focused on the development and manufacturing of solutions for the flexible packaging and agriculture industries. The Company’s products consist primarily of polyethylene (plastic) film and bags, including metalized plastic film, for the industrial, agricultural and consumer markets. Its polyethylene films are mainly sold to printers known as converters, who process the film into... see more

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Imaflex Inc > During the first quarter of 2023, the Company lent..

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Post by PhiladelphiaCo on May 25, 2023 3:12pm

During the first quarter of 2023, the Company lent..

16. Related party transactions

During the first quarter of 2023, the Company lent an amount of $1 million to an individual who is an officer, a shareholder and a director of the Company. This loan bears interest at an annual rate of 5% and is to be repayed within the next 12 months. As at March 31, 2023, the entire amount of this loan remained outstanding.

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