FendX Announces Third Real-World Testing Site for REPELWRAP(TM) Film with El Mocambo Live Music and Entertainment Venue
FendX Technologies has announced a third real-world testing site for its REPELWRAP™ film at El Mocambo, a prominent live music venue in Toronto. The company aims to test the nanotechnology-based surface protection film on high-touch surfaces over approximately four weeks to validate its performance. FendX previously announced similar testing at Giulietta, a Michelin Guide recommended restaurant, and Island View Place Care, a senior care facility. These tests are part of FendX's plan to gather data for the final product design and move towards large-scale commercial production.
- FendX is expanding its testing sites to include El Mocambo, a high-profile venue, indicating confidence in the product.
- The multi-location testing approach provides comprehensive data, aiding in product optimization and potential market acceptance.
- Collaborations with diverse venues like El Mocambo, Giulietta, and Island View Place Care broaden the potential application areas for REPELWRAP™ film.
- The involvement of Dunmore International in optimizing the manufacturing process suggests a strategic step towards scalable production.
- The success of REPELWRAP™ film is still uncertain pending real-world test results, posing a risk to commercial viability.
- Testing at multiple sites implies an extended timeline, which may delay the product launch and revenue generation.
- The focus on testing and data collection indicates that the product is not yet market-ready, potentially affecting investor confidence.
Nanotechnology testing results will provide insights to continue to move towards large scale commercial production
Oakville, Ontario--(Newsfile Corp. - May 16, 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 El Mocambo ("El Mocambo") which is a live music and entertainment venue.
El Mocambo, located in Toronto, Ontario, is an iconic live music and entertainment venue specializing in hosting live music, concerts, private events and multi-media broadcasting including hosting bands like the Rolling Stones and U2. Once the manufacturing process at Dunmore is successful completed, FendX intends to test REPELWRAP™ film on high touch surfaces at the El Mocambo and assess 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 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.
FendX also plans to conduct real-world testing at Giulietta, an award winning and Michelin Guide recommended Italian fine dining restaurant (announced May 3, 2024) and at Island View Place Care a senior care and memory residential community (announced May 10, 2024) to cover high touch surfaces in their facilities with REPELWRAP™ film. The Company now has three confirmed real-world testing sites and believes the findings from these sites, as well as other sites the Company may engage, will contribute to the final product design.
Dr. Carolyn Myers, CEO of FendX states, "El Mocambo is a good location for us to test our film as they have a significant number of patrons that visit their facility for the various events they hold." Dr. Myers continues, "El Mocambo is our third test site, and we plan to engage with other potential sites in different industries to test REPELWRAP™ film. Through active engagement with these three locations and others we may engage, we aim to collect sufficient data to guide the process of finalizing the film which would lead to commercial production."
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 El Mocambo, Giulietta, Island View Place Care and a variety of industry sites to assess performance; the intent to 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 the three testing sites, and others, will contribute to the final product design and functionality of REPELWRAP™ film once commercialized; the anticipated details and perceived benefits of the real-world testing with the test sites; statements regarding aiming to collect sufficient data to guide the process of finalizing the film; statement regarding leading to commercial production; 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/209320
FAQ
What is FendX Technologies testing at El Mocambo?
When did FendX announce the testing at El Mocambo?
What other venues are testing REPELWRAP™ film besides El Mocambo?
How long will the REPELWRAP™ film be tested at El Mocambo?
Who is FendX collaborating with for the manufacturing process of REPELWRAP™ film?
What is the goal of FendX's testing of REPELWRAP™ film?
