FendX Announces Second Real-World Testing Site for REPELWRAP(TM) Film with Island View Place Care and Provides Corporate Update
FendX Technologies Inc. announces real-world testing of REPELWRAP(TM) film with Island View Place Care, a senior living facility, after successful completion of a manufacturing process with Dunmore International Inc. The company also plans to conduct testing at Giuletta, an Italian restaurant. Furthermore, FendX enters into an agreement with Spark Newswire for investor relations consulting services.
Expansion of real-world testing sites will contribute to the final product design of REPELWRAP(TM) film.
Engagement with various industry partners for testing will enhance the breadth of performance assessment of the film.
The agreement with Spark Newswire for investor relations consulting services comes at a cost of C$75,000 plus GST per month, potentially impacting short-term expenses.
The early termination provision in the agreement with Spark Newswire may pose risks if the Company decides to terminate the services.
Oakville, Ontario--(Newsfile Corp. - May 10, 2024) - FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D) (the "Company" or "FendX"), a nanotechnology company developing surface protection coatings is pleased to announce that the Company plans to conduct real-world testing of REPELWRAP™ film with Island View Place Care ("Island View") a senior living and memory care community.
FendX is currently engaged with Dunmore International Inc. to conduct pilot test runs on their commercial manufacturing line to optimize the manufacturing process to create films for testing in real-world settings. After successful completion of the manufacturing process at Dunmore, FendX intends to do testing at Island View, located in Saanichton, near Victoria BC, which offers high quality care at their facilities tailored for seniors and those requiring memory care. Pursuant to a letter of intent, testing will involve applying REPELWRAP™ film to high touch surfaces in Island View's facility and assessing the performance of the film over an approximate four-week timeframe to confirm if the film can maintain its repelling performance as shown in McMaster University's lab.
FendX announced on May 3, 2024 that it planned to conduct real-world testing at Giuletta, an award winning and Michelin Guide recommended Italian fine dining restaurant, to cover high touch surfaces in the restaurant with REPELWRAP™ film. The Company now has two confirmed real-world testing sites and believes the findings from these sites as well as other sites the Company may partner with, will contribute to the final product design.
Dr. Carolyn Myers, CEO of FendX states, "We are pleased to be working with Island View Place Care to test our REPELWRAP™ film under real-world conditions." Dr. Myers continues, "Island View Place Care is our second testing site, and we look forward to continuing to engage with other potential sites in various industries to test the performance of REPELWRAP™ film. Engaging with various industry testing partners will increase the breadth of our testing so we can assess performance of our film under different conditions and with different industry sectors and uses."
The Company also announces an agreement with Spark Newswire ("Spark") dated May 9, 2024, who will provide investor relations consulting services for a four-month period for a fee of C
About REPELWRAP™ film
REPELWRAP™ film is the Company's first product in development and is a protective surface coating film that leverages the Company's award-winning nanotechnology. REPELWRAP™ film has demonstrated unique repelling properties that reduce adhesion of pathogens, bacteria, and viruses by >
About Dunmore International Corp.
Dunmore is a global manufacturer of engineered coated and laminated films and foils with manufacturing facilities in the U.S. 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 & 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 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 BOARD
"Carolyn Myers"
Carolyn Myers
Chief Executive Officer and Director
Contacts:
Dr. Carolyn Myers, CEO and Director
1-800-344-9868
Alyssa Barry, Investor Relations
1-833-947-5227
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; statements regarding the Company's scale-up and testing initiatives; statements regarding the successful completion of optimizing the manufacturing process; statements regarding the plans to conduct real world testing with Island View and a variety of industry sites to assess performance and the intent to potentially engage additional testing sites in other industries; the expectation the results obtained will confirm the film maintains its repelling properties as demonstrated in McMaster University's lab; statements regarding both testing partners, and others, will contribute to the final product design; the anticipated details and perceived benefits of the real-world testing with Island View; 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. 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 they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and 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. The reader is urged to refer to such public 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/208842
FAQ
What is FendX testing with Island View Place Care?
Where is Island View Place Care located?
What is the agreement with Spark Newswire about?
How much is the fee for the services provided by Spark Newswire?
Who is the CEO of FendX?
