Oakville, Ontario--(Newsfile Corp. - June 11, 2025) - FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D) (the "Company" or "FendX"), a technology company developing surface protection products, is pleased to announce that it has entered into a consulting agreement (the "Consulting Agreement") dated June 10, 2025 with a third party branding expert who will provide strategic branding and marketing support as the Company prepares for the market introduction of its eco-friendly sponge product line.
As disclosed in the Company's April 24, 2025 news release, FendX entered into an exclusive supply agreement that enables the Company to produce its own line of eco-friendly sponge products using the supplied foam which is made with proprietary manufacturing trade secrets. The Company intends to introduce these sponge products to consumer, retail and other commercial cleaning markets globally.
Dr. Carolyn Myers, CEO of FendX states, "A key initial step for a strategic rollout is the development of a distinct brand identity for the sponge product line, including naming, visual branding elements, such as color schemes and packaging design and creation of marketing promotional materials to support future promotion efforts. The engagement of a branding expert is expected to be instrumental in shaping a compelling and market-ready brand that effectively communicates the unique value of the sponge products."
The monthly consulting fee is $5,000 plus taxes payable in common shares of the Company on a quarterly basis upon receipt of invoices (at a price per share equal to the greater of: the Company's market price, its last financing price or higher price as may be agreed to). In addition to the consulting fee, the Company has also agreed to grant the consultant 250,000 options (each, an "Option") to purchase Shares pursuant to the Company's stock option plan within two weeks of the date of the Consulting Agreement. The details of the Options grant will be included in a subsequent news release following the date of their respective grant. All securities issued pursuant to the Consulting Agreement will be subject to receipt of all necessary regulatory approvals, including from the CSE. All securities will also be subject to resale restrictions in accordance with applicable securities laws and the policies of the CSE and will not be registered under the U.S. Securities Act of 1933, as amended. The term of the Consulting Agreement is for a period of six months ending December 9, 2025, and includes an early termination provision whereby either of the Company or the consultant may terminate the agreement upon 7 days written notice. The Company has the option to renew the Consulting Agreement for one or more months after the initial six-month term on the same terms, and any renewal will be at the discretion of the Company.
About FendX Technologies Inc.
FendX is a Canadian innovation-driven technology company focused on developing advanced surface protection and cleaning solutions for everyday environments. The Company is building a diversified product portfolio that includes nanotechnology-based coatings and a sustainable sponge product line. Its lead product under development, REPELWRAP film, is a protective surface coating film designed to prevent the adhesion of pathogens and reduce their transmission. FendX is also developing a spray coating and a catheter coating. Expanding beyond nanotechnology, the Company is preparing for the launch of a line of eco-friendly sponge products. FendX conducts research and development activities in collaboration with industry-leading partners, including McMaster University, and holds exclusive worldwide licenses to its nanotechnology and a robust intellectual property portfolio.
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; statements regarding the Consulting Agreement and issuance of any securities thereunder; renewal of the Consulting Agreement after the initial six month term; plans for the market introduction and production of a line of eco-friendly sponge products aimed at consumer, retail and other commercial target markets worldwide; 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: risks that Consulting Agreement may not receive regulatory approval, if required; adverse market conditions; risks and uncertainties associated with the Company's ability to raise additional capital to complete all of its planned activities including launching its proposed eco-friendly sponge products; risks related to the supply of bulk foam sponge rolls and securing a manufacturer to finish end-products; risks related to the size of the potential market for the Company's future sponge products; risks related to research and development activities for each of the film, spray formulation and catheter coating, including successful completion of real world performance testing and scale-up initiatives; risks that the Company may not expand its product pipeline or execute its business development and growth plans; risks that the Company's products, including the eco-friendly sponge, may not be commercialized, and if they are commercialized, that they 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 IP; product candidates only being in formulation/reformulation stages; limited operating history; 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/253594
SOURCE: FendX Technologies Inc.
