Vancouver, British Columbia--(Newsfile Corp. - July 8, 2025) - FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D) (the "Company" or "FendX"), an innovative surface protection company using their technology to develop product solutions to reduce the spread of harmful pathogens and support a cleaner, safer world, is pleased to announce that its REPELWRAP film continues to demonstrate good performance in its second real-world testing.
Following exposure to a high-touch surface at the test site on May 15, 2025, the film was collected and sent to McMaster University where lab testing confirmed it maintained its repelling properties against MRSA and Pseudomonas aeruginosa, and its surface integrity remained intact after repeated touches.
"We are very encouraged by the continued successful performance of REPELWRAP film in real-world conditions," said Dr. Carolyn Myers, CEO of FendX. "These results support the promise of our technology, and we are now evaluating potential next steps in its development."
Proposed Debt Settlement Transactions
The Company also announces that it is strengthening its balance sheet through the conversion of outstanding loans and accounts payable into securities of the Company. The Company intends to settle outstanding debts in an amount of $629,338.20 owed by the Company. An aggregate of $526,918.20 of debt (which includes approximately $435,043.20 in loans and debt owed to two insiders) will be settled through the issuance of an aggregate of 8,781,969 units (the "Debt Settlement Units") at a deemed price of $0.06 per Debt Settlement Unit. Each Debt Settlement Unit shall consist of one common share and one warrant with each warrant exercisable into one share at a price of $0.10 for a period of three years from the date of issuance, subject to an acceleration right, whereby the expiry date of the warrants may be accelerated if the daily closing price of the common shares equals or exceeds $0.20 on the Canadian Securities Exchange ("CSE") (or such other exchange on which the common shares may then be traded) for 20 consecutive trading days in which event the Company may accelerate the expiry date of the warrants by giving notice via news release and, in such case, 100% of the then unexercised warrants will expire on the 30th day after the date on which the news release is disseminated. Approximately $102,420 (US$75,000) of debt with a third-party consultant was for services performed and payable in common shares of the Company and will be settled through the issuance of 1,249,024 common shares ("Shares") at a deemed price of $0.082 per Share. The Shares and Debt Settlement Units proposed to be issued pursuant to the debt settlements will be subject to a statutory four month and one day hold period in accordance with applicable securities laws. The closing of the debt settlements will be subject to certain customary conditions precedent, including the Company's receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. As a result of insiders' participation in the debt settlements, the debt settlements (to the extent of the insider's participation) is a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the formal valuation and minority approval requirements found in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the transaction (as it relates to the insiders' participation) is not more than 25% of the Company's market capitalization.
None of the securities to be issued in connection with the debt settlements, will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 >98%, reducing their transmission on surfaces prone to contamination. The Company believes REPELWRAP film will have applications in healthcare settings and other industries.
About FendX Technologies Inc.
FendX is a surface protection company leveraging its proprietary technology to develop product solutions that help reduce the spread of harmful pathogens in everyday environments. The Company is advancing an eco-friendly, smart sponge designed to deliver effective cleaning while minimizing environmental impact. This innovative product complements FendX's broader pipeline, which includes REPELWRAP film, a protective surface coating with repelling properties that significantly reduce adhesion and transmission of pathogens on high-touch surfaces, and a spray-based coating with similar functionality. Additionally, the Company is developing specialized catheter coatings, with its first coating being for Foley catheters. The Company holds an exclusive supply agreement for the eco-sponge and an exclusive license to certain intellectual property related to the use of the sponge, as well as exclusive worldwide licenses and intellectual property for its coating technologies.
ON BEHALF OF THE COMPANY,
"Carolyn Myers"
Carolyn Myers
Chief Executive Officer and Director
Contacts:
Investor Relations
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 Company's plans to evaluate potential next steps in the development of REPELWRAP film; statements regarding the Company's intentions and the Company's belief that REPELWRAP film will have applications in healthcare settings and other industries; statements regarding the debt settlements, and closing of the debt settlements. 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 the Company will not complete a financing or raise sufficient funds to complete all of its planned activities; risks that the Company's products may not perform as, or have the benefits, expected; 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 risk that there will be delays in commencing any further performance testing as anticipated or at all; the risk that the Company will receive negative results from the Company's performance testing; 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; 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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258162
SOURCE: FendX Technologies Inc.
