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Garmatex Develops Exclusive Formulated Performance Fabric for ASICS Corporation

Chilliwack, British Columbia--(Newsfile Corp. - April 21, 2017) - Garmatex Holdings Ltd. (OTC PINK: GRMX) ("Garmatex Holdings" or the "Company") is pleased to announce that Garmatex Technologies, Inc. ("GTI") has received its third purchase order since the fall of 2016 from ASICS Corporation ("ASICS") (TYO:7936), the multinational athletic company.

To fulfill these orders, GTI developed a specifically formulated version of Kottinu®, an amazing proprietary performance fabric with a "cotton-like" comfort and feel for ASICS's woman's volleyball lines.

GTI's President and CEO, Darren Berezowski, commented, "We are honored to have partnered with an industry leader like ASICS who have become the quintessential name in running and volleyball.   Their customers have become accustomed to expecting the best in innovation and technology from ASICS, so it is a testimony as to the quality of our Garmatex technologies that ASICS would select our performance fabrics over the competition."

"ASICS presents a massive potential growth opportunity for GTI going-forward.  Our long-term objective is to establish Garmatex performance fabrics within many of ASICS sporting lines."

ASICS publicly reported revenue of ¥428.4 billion ($3.93 billion) for the year ended December 31, 2015.

GTI is the developer of the Company's recently licensed Garmatex scientifically-engineered fabric technologies and performance technologies, including a patented T3® design, Bact-Out®, CoolSkin®, WarmSkin®, Kottinu, ColdSkin™, SteelSkin™, Satinu™, CamoSkin™, RecoverySkin™, SlimSkin™, AbsorbSkin™™ and IceSkin™.  Garmatex Holdings (GRMX) has also agreed to acquire GTI subject to customary terms and conditions.   There is no assurance that Garmatex Holdings Ltd will acquire GTI as contemplated or at all.

Additional information regarding Garmatex Holdings Ltd., GTI, and Garmatex scientifically-engineered fabric technologies are expected to be made available in subsequent press releases.

About Asics


In 1949, Mr. Kihachiro Onitsuka began his athletic footwear company (Onitsuka Co., Ltd.) by manufacturing basketball shoes out of his living room in Kobe, Japan. He chose the name ASICS, based on a famous Latin phrase "Anima Sana In Corpore Sano", which when translated expresses the ancient ideal of "A Sound Mind in a Sound Body." Taking the acronym of this phrase, ASICS was founded on the belief that the best way to create a healthy and happy lifestyle is to promote total health and fitness.

ASICS products were introduced to the United States in 1977 and brought with them an incredible story of athletic performance and technical advancements, a philosophy which still holds true today.

For additional information regarding Asics, visit www.asics.com

About Garmatex Holdings Ltd. (GRMX)


Garmatex Holdings Ltd. holds a non-exclusive Master Sublicense Agreement with Garmatex Technologies, Inc. ("GTI"), whereby it was granted various intellectual property rights related to the design, development and manufacturing of various scientifically-engineered fabric technologies and performance technologies, including a patented T3® design, Bact-Out®, CoolSkin®, WarmSkin®, Kottinu™, ColdSkin™, SteelSkin™, Satinu™, CamoSkin™, RecoverySkin™, SlimSkin™, AbsorbSkin™ and IceSkin™. The Company commenced operations using these technologies on March 9, 2017.

The Company plans to provide performance fabric solutions in virtually every sector that has textile applications. Its primary strategy is to deploy its performance fabrics as a premium ingredient brand, similar to Gore-Tex® in the outerwear market, or akin to Intel® in the computer space. The Company believes that its future fabrics will be superior in performance relative to current market "standards" and will have a wide range of applications in multiple clothing and textile categories, including, but not limited to, sports apparel, medical, sleepwear, linens, undergarments, military, designer wear, protective, industrial and first responders.

The Company's business model is to co-develop fabric with manufacturers to obtain exclusive licenses of technology and purchase fabric technology to build on its portfolio. The Company plans to commercialize these inventions by selling bolts of fabric directly to retailers and wholesalers. The Company also plans to control the proprietary process of the technology for IP protection and does not intend to own any manufacturing facilities, which are intended to allow it to scale.

The Company is in the market to acquire additional technologies from inventors looking for a commercialization partner.

Cautionary Langu
age Concerning Forward-Looking Statements

This press release contains forward-looking statements. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations, or intentions regarding the future including that ASICS presents a massive potential growth opportunity for GTI going-forward and that it will establish Garmatex performance fabrics within many of ASICS sporting lines; the Company's plan to provide additional information regarding Garmatex Holdings Ltd., GTI, and Garmatex scientifically-engineered fabric technologies in subsequent press releases; the Company's plan to provide performance fabric solutions in virtually every sector that has textile applications; the Company's primary strategy to deploy its performance fabrics as a premium ingredient brand, similar to Gore-Tex® in the outerwear market, or akin to Intel® in the computer space; the Company's belief that its future fabrics will be superior in performance relative to current market "standards" and will have a wide range of applications in multiple clothing and textile categories, including, but not limited to, sports apparel, medical, sleepwear, linens, undergarments, military, designer wear, protective, industrial and first responders; the Company's business model to co-develop fabric with manufacturers to obtain exclusive licenses of technology and purchase fabric technology to build on its technology portfolio; the Company's plan to commercialize these inventions by selling bolts of fabric directly to retailers and wholesalers; the Company's plan to control the proprietary process of the technology for IP protection; the Company's intention not to own any manufacturing facilities, which are intended to allow it to scale; and the statement that the Company is in the market to acquire additional technologies from inventors looking for a commercialization partner.

These statements relate to future events and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: the Company's ability to implement its business and strategy, the success by the Company of the sales of its future products, the acceptance by brand leaders of the Company's future products, the Company's ability to obtain additional funds for the planned operation, the impact of intellectual property disputes that could materially and adversely affect the Company's business, the Company's ability to remain competitive in the market for technologically advanced textiles, and the availability of raw materials in the manufacture of products.

You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. Except as required by the applicable securities laws, including the securities laws of the United States and Canada, we assume no obligation to publicly update or revise these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at www.sec.gov and with Canadian securities commissions under the Company's profile at www.sedar.com .

Contact Garmatex Holdings Ltd.

Devon Loosdrecht, President and CEO
devon@garmatexholdings.com


Contact Garmatex Technologies, Inc.

Darren Berezowski, President and CEO
dberezowski@garmatex.com

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