FendX Shares Early Results from Real-World Testing of REPELWRAP(TM) Film and Provides Corporate Update
March 12, 2025 6:00 AM EDT | Source: FendX Technologies Inc.
Oakville, Ontario--(Newsfile Corp. - March 12, 2025) - 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 its REPELWRAP™ film performed well in its first real-world testing at one of the Company's previously announced test sites.
Testing involved applying REPELWRAP™ film to a high-touch surface in a location at the test site that is known to be subjected to numerous touches. After the testing period, the Company had McMaster University ("McMaster") analyze the film in its lab. Findings indicate that the test film maintained its repelling properties when tested against two surface-dwelling bacteria that can cause serious infections, including MRSA. The Company intends to conduct additional real-world performance testing of REPELWRAP™ film.
The Company also announces it has entered into a consulting agreement dated March 11, 2025 with a third-party marketing firm, to provide FendX with marketing services, including, designing, creating and distributing content to increase brand awareness and assisting the Company with developing marketing strategies (the "Services"), for a period of 12 months. The Services will commence upon FendX completing a financing and confirming a budget for the Services to be provided.
The Company also announces that it has entered into an agreement with Outside The Box Capital Inc. ("OTB") on March 11, 2025 for the provision of investor relations, marketing and distribution services (the "IR Services"). Pursuant to the agreement, OTB has agreed to provide the IR Services to the Company for a period of three months in exchange for a fee of $288,000 (the "Fee") plus applicable taxes upon receipt of invoices. The commencement of the IR Services and three month term are anticipated to commence on or about March 19, 2025, with $216,000 of the Fee plus applicable taxes payable on such commencement date. The IR Services include social media, digital and influencer-based marketing, content creation and distribution across social channels that include Reddit, Discord, Telegram, X (formerly Twitter), and StockTwits, and other related investor communication and marketing services. The term of the OTB agreement is for a period of 3 months, and includes an early termination provision by the Company upon 10 days written notice. The Company intends to renew the agreement after the initial three-month term at the same terms, and any renewal will be at the discretion of the Company. OTB and its principals are arm's length to the Company. OTB's contact information is as follows: 2202 Green Orchard Place, Oakville, Ontario, L6H 4V4, attention: Jason Coles, email: jason@outsidethebox.capital, telephone: 289-259-4455.
About REPELWRAP™ Film
REPELWRAP™ film is the Company's first product in development and is a protective surface coating film that leverages the Company's award-winning nanotechnology. REPELWRAP™ film has demonstrated unique repelling properties that reduce adhesion of pathogens, bacteria, and viruses by >98%, reducing their transmission on surfaces prone to contamination. The Company believes REPELWRAP™ film will have applications in healthcare settings and other industries.
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.
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; statements regarding the Company's plans to conduct additional real-world performance testing of REPELWRAP™ film; statements regarding the Company's ability to complete a financing sufficient to commence the Services and confirming a budget for the Services to be provided; statements regarding the anticipated commencement date of the IR Services; statements regarding the Company's intentions and the Company's belief that REPELWRAP™ film will have applications in healthcare settings and other industries. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements are only predictions and involve known and unknown risks which may cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking statements, including: risks that the Company will not complete a financing or raise sufficient funds to complete all of its planned activities; risks that the Company's products may not perform as, or have the benefits, expected; risks related to research and development activities; risks that the Company's products may not be accepted and adopted by the public; the risk that the Company will not obtain necessary approvals and/or clearances as anticipated or at all; the risk that there will be delays in commencing any further performance testing as anticipated or at all; the risk that the Company will receive negative results from the Company's performance testing; the effects of government regulation on the Company's business; risks associated with the Company's ability to obtain and protect rights to its intellectual property; risks and uncertainties associated with the Company's ability to raise additional capital; and other factors beyond the Company's control. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity or performance. Further, any forward-looking statement speaks only as of the date on which such statement is made and, except as required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all of such factors and to assess in advance the impact of such factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Readers should consult all of the information set forth herein and should also refer to the risk factor disclosure outlined in the Company's filings with the British Columbia Securities Commission on SEDAR+ at www.sedarplus.ca.
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