Dr. Carolyn Myers reports

FENDX CCOMPLETES THIRD PILOT RUN TO MANUFACTURE REPELWRAP(TM) FILM USING DUNMORE'S COMMERCIAL EQUIPMENT

Fendx Technologies Inc. has completed a third pilot manufacturing run on Dunmore International Corp.'s commercial manufacturing equipment which was successful in furthering optimization of the Repewrap film manufacturing process and advancement of the company's scale-up development initiatives of Repewrap film.

The results of the first pilot manufacturing run, announced Oct. 3, 2023, confirmed the Repewrap film formulation is suitable for automated manufacturing, which involved a two-pass coating process to create the nano-coating on the surface of the film. The first pilot run was successful and resulted in production of intermediate sized sheets of film covered with the company's nanotechnology. The company conducted a successful second pilot manufacturing run, announced Jan. 10, 2024, that consisted of combining the nano-coating chemicals to enable a one-pass coating process to reduce manufacturing time as a one-pass coating does not require machine change overs between each coating application.

In this third pilot run, a key focus was to utilize the one-pass coating process confirmed in the second pilot run to further reduce the drying time after deposition of the nano-coating on the film. The company confirmed it was successful in reducing the manufacturing drying time compared with the drying times that were required in the first and second pilot runs. This resulted in a more efficient and cost-effective process that supports the company's continued advancement and optimalization of the manufacturing process. The company plans to continue to refine the manufacturing process and conduct further testing including real-world conditions testing.

"We are pleased with the successful advancements we are making to streamline the manufacturing process to manufacture Repewrap film on Dunmore's commercial manufacturing equipment," stated Dr. Carolyn Myers, chief executive officer of Fendx. "We are working closely with Dunmore and McMaster University to continue to optimize the manufacturing process and look forward to getting closer to a final commercial manufacturing process."

The company entered into a development stage agreement with Dunmore, a Steel Partners Holdings LP operating company, to assess scale-up of Repewrap film, as previously announced on April 12, 2023. On June 22, 2023, the company announced it had successfully completed the first phase of the work to adapt McMaster University's lab prototype formula to Dunmore's manufacturing process. The second phase of the work, which is in progress, is to conduct automated pilot runs on Dunmore's commercial manufacturing equipment.

About Repewrap film

Repewrap film is the company's first product under development and is a protective surface coating film that leverages the company's award-winning nanotechnology. Repewrap film has demonstrated unique repelling properties that prevent the adhesion of pathogens, bacteria and viruses, reducing their transmission on surfaces prone to contamination. The company believes Repewrap film will have applications in health care settings and other industries.

About Dunmore International Corp.

Dunmore is a global manufacturer of engineered coated and laminated films and foils with manufacturing facilities in the United States 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 and 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 Technologies 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 intellectual property portfolio from McMaster, which encompass both film and spray coating nanotechnology formulations.

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