FendX Announces RSU Grant

Rhea-AI Summary

FendX Technologies (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D), a nanotechnology company focused on surface protection coatings, has granted 55,000 restricted share units (RSUs) to a consultant. The RSUs will vest in three equal portions: on the grant date, December 20, 2024, and January 18, 2025. The grant follows the company's equity incentive plan from October 19, 2021, and includes a mandatory hold period of four months and one day from issuance.

Positive

• None.

Negative

• 55,000 RSUs grant may lead to minor shareholder dilution

Oakville, Ontario--(Newsfile Corp. - December 19, 2024) - FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D) (the "Company" or "FendX"), a nanotechnology company developing surface protection coatings, announces it granted 55,000 restricted share units ("RSUs") to a consultant. The RSUs vest as to 1/3 of the grant on each of the grant date, December 20, 2024 and January 18, 2025. The RSUs were granted in accordance with the Company's equity incentive plan dated October 19, 2021. The RSUs are subject to a hold period of four months and one day from the date of grant.

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 FENDX TECHNOLOGIES INC.

"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; 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. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and involve several risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and that actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: 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 risk factors set forth in the Company's public filings which are available on SEDAR+ at www.sedarplus.ca. Accordingly, the reader is urged to refer to the Company's such filings for a more complete discussion of such risk factors and their potential effects. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234597

FAQ

How many RSUs did FendX Technologies (FDXTF) grant in December 2024?

FendX Technologies granted 55,000 restricted share units (RSUs) to a consultant in December 2024.

What is the vesting schedule for FDXTF's December 2024 RSU grant?

The RSUs vest in three equal portions: on the grant date, December 20, 2024, and January 18, 2025.

What is the hold period for FendX Technologies' (FDXTF) December 2024 RSU grant?

The RSUs are subject to a hold period of four months and one day from the date of grant.

Under which plan were FDXTF's December 2024 RSUs granted?

The RSUs were granted under FendX Technologies' equity incentive plan dated October 19, 2021.