07:05:56 EDT Thu 25 Apr 2024
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Fendx Technologies Inc
Symbol FNDX
Shares Issued 69,431,093
Close 2024-03-28 C$ 0.27
Market Cap C$ 18,746,395
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Fendx hires MIC for IR services, talks Repelwrap pilots

2024-03-28 09:51 ET - News Release

Dr. Carolyn Myers reports


Fendx Technologies Inc. is continuing to streamline the manufacturing process through completion of a further pilot run on Dunmore International Corp.'s commercial manufacturing equipment.

The latest pilot run provided valuable insights into the nano-particle deposition on the film, leading to further optimization of the manufacturing time. The first pilot run conducted confirmed automation of the manufacturing of Repelwrap film formulation that resulted in successful coating of thousands of feet of film in minutes, and each subsequent run pilot run provided important results to advance and streamline the manufacturing process. Achieving a final manufacturing process often entails conducting multiple pilot runs, with each of these runs providing meaningful information, resulting in fine-tuning the overall manufacturing process.

"Our continuous advancements achieved through insights gained from successive pilot runs brings us closer to a final commercial manufacturing process," states Dr. Carolyn Myers, chief executive officer of Fendx. "Our commitment to advancing our products, including the Repelwrap film, is reinforced by our collaborations with McMaster University and Dunmore, whose contributions play an important role in assisting us with the development and scale-up of our nanotechnology."

The company has entered into a series of development-stage agreements with Dunmore, a Steel Partners Holdings LP operating company, to assess scale-up of Repelwrap film, and perform optimization work and pilot runs, starting in April, 2023. On June 22, 2023, the company announced Dunmore 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 to optimize the manufacturing process.

The company also announces that it has entered into an investor relations services agreement with MIC Market Information & Content Publishing GmbH on March 27, 2024. Pursuant to the agreement, MIC has agreed to provide investor communication and on-line marketing services to the company for a period of six months until Aug. 28, 2024, in exchange for a fee of 250,000 euros upon receipt of an invoice. The services include analytics, content creation and publishing, digital and social media marketing, and other related investor communication services. MIC and its principals are arm's-length to the company. MIC's contact information is as follows: Gerhart-Hauptmann-Str. 49B, 51379 Leverkusen, NRW, Germany, attention: Christina Hammer, contact@micpublishing.de, telephone: 49-2171-7766628.

The company also announces its intention to complete a share-for-debt settlement with a creditor at a price of 20 cents per share, to settle $100,000 of advisory fees through the issuance of 500,000 common shares. Completion of the debt settlement is subject to receipt of all necessary regulatory approvals, including from the Canadian Securities Exchange. The shares to be issued will be subject to a hold period expiring four months and one day from the date of issuance, in accordance with applicable securities laws.

About Repelwrap film

Repelwrap film is the company's first product under development and is a protective surface coating film that leverages the company's award-winning nanotechnology. Repelwrap 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 Repelwrap 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 encompasses both film and spray coating nanotechnology formulations.

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