Testing nanotechnology to assess for further optimization of manufacturing process at Dunmore
Oakville, Ontario--(Newsfile Corp. - June 12, 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 New Vista Society ("New Vista") which is a non-profit organization committed to enriching senior's lives and providing affordable housing and long term care.
FendX is currently engaged with Dunmore International Inc. to conduct pilot manufacturing runs of REPELWRAP™ film and after successful optimization of the manufacturing process, FendX intends to conduct real-world testing with New Vista, located in Burnaby, BC. New Vista runs the New Vista Care Home, a 236-bed licensed, accredited residential care facility, principally caring for people living with complex health issues and dementia and also operates 690 independent living apartments and townhouses for low-income seniors and low- to moderate-income families. In addition, New Vista provides support to the frail and elderly in the community through adult day programs. FendX and New Vista have signed a letter of intent for testing which will involve applying REPELWRAP™ film to high touch surfaces at New Vista 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.
Dr. Carolyn Myers, CEO of FendX states, "We are pleased to be working with New Vista to test our REPELWRAP™ film." Dr. Myers continues, "New Vista's commitment to seniors' well-being and affordable housing speaks volumes to their positive impact in the community and we feel privileged to be collaborating with them to test 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."
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 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
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 New Vista and a variety of industry sites to assess performance; the timing of testing and expectation the results obtained will confirm the film maintains its repelling properties as demonstrated in McMaster University's lab; the Company's expectation that engaging with various industry testing partners will increase the breadth of testing to assess performance of the film under different conditions and with different industry sectors and uses; the anticipated details and perceived benefits of the real-world testing with New Vista; 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.
