Dr. Carolyn Myers reports

FENDX TECHNOLOGIES ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT WITH STRATEGIC INVESTORS AND UPSIZING

Fendx Technologies Inc. has closed its previously announced non-brokered private placement and has issued 2,625,000 units at a price of 20 cents per unit, raising gross proceeds of $525,000. As described in its press release dated Dec. 20, 2023, the size of the offering could be increased to accommodate increased demand, and, as such, the company has closed this initial tranche and is increasing the size of the total offering to up to five million units to raise gross proceeds of up to $1-million or such greater amount as the company may determine. One or more additional closings may occur. Bloom Burton & Co. Inc. and other strategic investors participated in this first closing.

Each unit comprises one common share in the capital of the company and one transferable share purchase warrant. Each warrant is exercisable for one share at a price of 40 cents per warrant share for a period of three years after the closing date, subject to an acceleration right, as described in the company's press release dated Dec. 20, 2023. In connection with the closing, the company paid finders' fees to eligible finders comprising $8,000 in cash and 170,000 finder units and issued 210,000 finder warrants. Each finder unit comprises one Unit and each finder warrant is exercisable into one common share at an exercise price of 20 cents for 36 months from the closing date of the offering.

The company intends to use the net proceeds from the offering to advance the company's scale-up activities on both its Repelwrap film and spray technologies and for general corporate purposes.

Closing of the offering is subject to receipt of all necessary regulatory approvals, including from the Canadian Securities Exchange. All securities issued in relation to the offering are subject to a hold period expiring four months and one day after the closing date, in accordance with applicable securities laws.

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 an exclusive worldwide licence to its technology and IP (intellectual property) portfolio from McMaster, which encompasses both film and spray coating nanotechnology formulations.

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