FendX Advancing REPELWRAP(TM) Film with Dunmore by Conducting an Additional Pilot Manufacturing Run on Dunmore’s Commercial Manufacturing Line and Provides Corporate Update
Oakville, Ontario–(Newsfile Corp. – April 23, 2024) – FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D) (the “Company” or “FendX“) a nanotechnology company developing surface protection coatings, is pleased to announce that the Company has entered into a development stage agreement on April 22, 2024 with Dunmore International Corp. (“Dunmore“), a Steel Partners Holdings L.P. (NYSE: SPLP) operating company, to conduct an additional pilot manufacturing run to further optimize the manufacturing process of REPELWRAP™ film.
Dr. Carolyn Myers, CEO of FendX states, “We continue to advance our REPELWRAP™ film through conducting pilot runs with Dunmore to reach the end goal of providing us with an optimal manufacturing process. Successful completion of this will allow us to conduct real-world environmental conditions testing to confirm the film meets expected performance metrics which would then allow us to prepare for commercial production.”
The Company in collaboration with Dunmore have confirmed the REPELWRAP™ film formulation is suitable for automated manufacturing and the Company is conducting pilot runs to optimize the process. Achieving a final manufacturing process typically involves conducting multiple pilot runs, each providing valuable insights to optimize the process, which aligns with the Company’s ongoing efforts to advance the REPELWRAP™ film manufacturing process.
The Company also announces an agreement with Fairfax Partners Inc. (“Fairfax”) dated April 22, 2024, who will provide investor relations communication support for a one-month period for a fee of C$15,000 plus GST. The services include content development, social media campaign and analytics. The term of the Fairfax agreement is for a period of one month ending May 21, 2024, and includes an early termination provision. The Company intends to renew the agreement after the one-month term at the same terms, and any renewal will be at the discretion of the Company. Fairfax and its principals are arm’s length to the Company. Fairfax contact information is as follows: #209 – 170 East 3rd St, North Vancouver, BC, V7L 1E6, attention: Daniel Southan-Dwyer, email connect@fairfaxpartners.ca, telephone: 825-901-8298.
The Company also announces an agreement with i2i Marketing Group, LLC (“i2i”) dated April 22, 2024, who will provide investor relations communication support for a three-month period for a fee of USD$250,000. USD$50,000 is due within 5 days of the effective date of the agreement and the remainder will be payable four weeks from the effective date, subject to receipt of invoices, and includes an early termination provision. The services include content creation management, author sourcing, project management and media distribution. The term of the i2i agreement is for a period of three months ending June 21, 2024, and is renewable on a monthly basis. The Company intends to renew the agreement after the three-month term at the same terms, prorated based on the renewal term and any renewal is at the discretion of the Company. i2i and its principals are arm’s length to the Company. i2i’s contact information is as follows: #222, 1107 Key Plz, Key West, FL, 33040-4177, attention: Joe Grubb, email jg@i2illc.com, telephone: (312) 725-3843.
About Dunmore International Corp.
Dunmore is a global manufacturer of engineered coated and laminated films and foils with manufacturing facilities in the U.S. and Germany. Dunmore offers film conversion services such as coating, metallizing, and laminating along with contract film manufacturing and custom film product development. Dunmore services a diverse group of industries including aircraft, spacecraft, photovoltaic, graphic arts & labels, packaging, and insulation. Dunmore is a subsidiary of Steel Partners and is ISO 9001:2015 and OSHA VPP Star certified.
About FendX Technologies Inc.
FendX is a Canada-based nanotechnology company focused on developing products to make people’s lives safer by reducing the spread of pathogens. The Company is developing both film and spray products to protect surfaces from contamination. The lead product under development, REPELWRAP™ film, is a protective surface coating film that, due to its repelling properties, prevents the adhesion of pathogens and reduces their transmission on surfaces prone to contamination. The spray nanotechnology is a bifunctional spray coating being developed to reduce contamination on surfaces by repelling and killing pathogens. The Company is conducting research and development activities using its nanotechnology in collaboration with industry-leading partners, including McMaster University. The Company has exclusive worldwide licenses to its technology and IP portfolio from McMaster, which encompass both film and spray coating nanotechnology formulations.
ON BEHALF OF THE BOARD
“Carolyn Myers”
Carolyn Myers
Chief Executive Officer and Director
Contacts:
Dr. Carolyn Myers, CEO and Director
1-800-344-9868
Alyssa Barry, Investor Relations
1-833-947-5227
investor@fendxtech.com
For more information, please visit https://fendxtech.com/ and the Company’s profile on SEDAR+ at www.sedarplus.ca.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of Canadian securities legislation, including with respect to: the plans of the Company; conducting an additional pilot manufacturing run to further optimize the manufacturing process of REPELWRAP™ film; statements regarding reaching the end goal of providing the Company with an optimal manufacturing process and which will allow the Company to conduct real-world environmental conditions testing to confirm the film meets expected performance metrics which would then allow the Company to prepare for commercial production; statements regarding the Company’s efforts to advance the REPELWRAP™ film manufacturing process; the Company’s intention to renew the Fairfax agreement; the Company’s intention to renew the i2i agreement; and products under development and any pathogen reduction benefits related thereto. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and involve several risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and that actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: product candidates only being in formulation/reformulation stages; limited operating history; research and development activities; dependence on collaborative partners, licensors and others; effect of general economic and political conditions; and other risk factors set forth in the Company’s public filings which are available on SEDAR+ at www.sedarplus.ca. Accordingly, the reader is urged to refer to the Company’s such filings for a more complete discussion of such risk factors and their potential effects. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors should change.
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