FendX Announces Grant of Stock Options and RSUs

Rhea-AI Summary

FendX Technologies (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D), a nanotechnology company focused on surface protection coatings, has announced new equity compensation grants. The company has issued 2,925,000 stock options to directors, officers, employees and consultants at an exercise price of $0.17 with a five-year expiration term. Additionally, 500,000 restricted share units (RSUs) were granted to a consultant.

Both the stock options and RSUs vest immediately upon grant and are subject to a four-month and one-day hold period. These grants were made under the company's equity incentive plan dated October 19, 2021. The securities will not be registered under the U.S. Securities Act of 1933.

Oakville, Ontario--(Newsfile Corp. - March 21, 2025) - FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF)  (FSE: E8D) (the "Company" or "FendX"), a nanotechnology company developing surface protection coatings announces it has granted stock options and restricted share units ("RSUs") to certain directors, officers and consultants.

FendX granted an aggregate of 2,925,000 stock options to certain directors, officers, employees and consultants at an exercise price of $0.17 expiring five years from the date of grant. In addition, the Company granted 500,000 RSUs to a consultant. The stock options and RSUs vest on the grant date. The stock options and RSUs were granted in accordance with the Company's equity incentive plan dated October 19, 2021. All of the stock options and RSUs are subject to a hold period of four months and one day from the date of grant.

None of the securities will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

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 COMPANY

"Carolyn Myers"
Carolyn Myers
Chief Executive Officer and Director

Contacts:

Dr. Carolyn Myers, CEO and Director
1-800-344-9868
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; the Company's belief that REPELWRAP™ will have applications in healthcare settings and other industries; 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. 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: adverse market conditions; risks that the Company will not complete future financings or raise sufficient funds to complete all of its planned activities; 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 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; 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245703

FAQ

How many stock options did FendX Technologies (FDXTF) grant in March 2025?

FendX Technologies granted 2,925,000 stock options at an exercise price of $0.17, expiring in five years.

What is the exercise price for FDXTF's newly granted stock options?

The exercise price for the stock options is $0.17 per share.

How many RSUs did FendX Technologies (FDXTF) issue to consultants?

FendX Technologies granted 500,000 RSUs to a consultant.

What is the vesting period for FDXTF's March 2025 stock options and RSUs?

Both the stock options and RSUs vest immediately on the grant date.

What is the hold period for FendX's (FDXTF) newly granted equity compensation?

The stock options and RSUs have a hold period of four months and one day from the grant date.