Delta, British Columbia--(Newsfile Corp. - July 22, 2024) - Fab-Form Industries Ltd. (TSXV: FBF) ("Fab-Form^®", or the "Company") is thrilled to announce that it has filed a patent application for its latest innovative product, "SPACE-R". This development marks a significant milestone in our ongoing commitment to pioneering advancements and delivering top-tier solutions to our customers worldwide.

The SPACE-R addresses three challenges in creating reinforced concrete columns. Firstly, it replaces the traditional horizontal steel stirrup with a lightweight fiberglass component, significantly reducing shipping costs and eliminating corrosion issues. Secondly, it utilizes polypropylene clips to connect vertical rebar to the horizontal stirrup, reducing onsite labor and eliminating human error. Thirdly, it features polypropylene fins on the outside to ensure the reinforcement is correctly positioned within the column, a task typically accomplished with rebar wheels in the industry.

ABSTRACT OF THE DISCLOSURE

There is provided a formwork assembly. The formwork assembly includes a plurality of longitudinally-extending and laterally spaced-apart steel reinforcing bars. The formwork assembly includes a hoop reinforcement shaped to extend about the reinforcing bars. The hoop reinforcement is configured to provide shear strength to concrete poured into the formwork so positioned. The formwork assembly includes a plurality of receptacles circumferentially spaced-apart about, coupled to and radially inwardly-extending from the hoop reinforcement so as to promote a desired positioning or spacing of the reinforcing bars. The formwork assembly includes a plurality of spacers circumferentially spaced-apart about, coupled to and radially outwardly-extending from the hoop reinforcement. The formwork assembly includes a formwork shaped to extend about and be positioned in place via the plurality of spacers. There is further provided a concrete stirrup apparatus comprising said hoop reinforcement, receptacles and spacers.

Fig. 4

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Fig. 9

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To see the patent application, go to: http:www.fab-form.com/SPACE-R

"We are proud of this SPACE-R," said Rick Fearn, Chief Technology Officer of Fab-Form. "It will provide significant value to concrete contractors around the world. Filing for this patent is crucial in safeguarding our innovation and ensuring its success in the market."

"We see significant world potential for this product," said Joey Fearn. "Every city in every country has concrete columns which require reinforcement. SPACE-R works with conventional column formwork as well as the fabric form, Fast-Tube^®".

The Company will continue to update its stakeholders and the public on the progress of the patent application and the product's development.

About Fab-Form^®

Fab-Form Industries Ltd ("Fab-Form^®") is a leading eco-friendly concrete forming products manufacturer located in Vancouver, BC Canada. Since its inception in 1986, the Company has invented, developed, and commercialized foundation products that are greener and more sustainable for the building industry.

The Company has traded on the TSX Venture Exchange ("TSXV" under the symbol FBF) since 2000.

Forward Looking Statements

Some statements contained in this news release constitute "forward-looking statements" as is defined in applicable securities laws. These statements include, without limitation, the success of developing, manufacturing, and distributing new products and other similar statements concerning anticipated future events, conditions, or results that are not historical in nature, and reflect management's current estimates, beliefs, intentions, and expectations. These statements are not guaranteeing future performance. The Company cautions that all forward-looking information is inherently uncertain, and that actual performance may be affected by several material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to product development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; potential defects in product performance; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; the uncertainty of capturing market share and other risks and uncertainties. Accordingly, actual future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. These statements are made as of the Report Date and, except as required by law, the Company is under no obligation to update or alter any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For additional information please visit our website at www.fab-form.com

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