Vancouver, British Columbia--(Newsfile Corp. - August 13, 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, announces that it intends to consolidate the common shares of the Company (each, a "Share") on the basis of ten (10) pre-consolidation Shares for one (1) post-consolidation Share (the "Consolidation").
To optimize the share structure of the Company, the board of directors has approved the Consolidation on the basis that it may attract additional financing and position the Company for growth and shareholder value increase.
The Consolidation will become effective at the opening of the market on August 18, 2025. The symbol "FNDX" will remain the same. The new CUSIP number will be 314460205 and its new ISIN number will be CA3144602057 for the post-Consolidation Shares. Currently, a total of 90,019,646 Shares are issued and outstanding. Accordingly, upon the Consolidation becoming effective, a total of 9,001,965 Shares, subject to adjustments for rounding, will be issued and outstanding. Where the exchange results in a fractional share, the number of Shares will be rounded up to the nearest whole Share. The exercise or conversion price and/or the number of Shares issuable with respect to any of the Company's outstanding convertible securities will be proportionately adjusted in connection with the Consolidation. There is no maximum number of authorized Shares.
Endeavor Trust Corporation will mail out a Letter of Transmittal to the shareholders of record on August 18, 2025 providing instructions on exchanging pre-Consolidation share certificates for post-Consolidation share certificates. Shareholders are encouraged to send their share certificates, together with their Letter of Transmittal, to Endeavor Trust Corporation in accordance with the instructions in the Letter of Transmittal. The board of directors is proceeding with the Consolidation on the basis that it may provide the Company with increased flexibility to seek additional financing opportunities. The Consolidation remains subject to the policies of the Canadian Securities Exchange.
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 forward-looking statements. All statements, other than statements of historical fact that address activities, events, or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking statements. Forward-looking statements in this news release include statements with respect to the Consolidation and the anticipated effective date of the same. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262274
SOURCE: FendX Technologies Inc.
