Real-World testing nanotechnology to provide insights for manufacturing process with Dunmore
Oakville, Ontario--(Newsfile Corp. - July 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 LA Fitness ("LA Fitness").
FendX is collaborating with Dunmore International Inc. to conduct pilot manufacturing runs of REPELWRAP™ film. Following successful optimization of the manufacturing process, FendX plans to perform real-world testing with LA Fitness at their Vaughan location, which is just outside of Toronto, Ontario. LA Fitness is a well-established gym and fitness club chain of 690+ fitness clubs across the U.S. and Canada that offers a wide range of fitness amenities to its members. FendX and LA Fitness have executed a letter of intent for testing, which will involve applying REPELWRAP™ film to high-touch surfaces at LA Fitness. The goal is to assess the film's performance over approximately four weeks and confirm its repelling capabilities, as demonstrated in McMaster University's lab.
Dr. Carolyn Myers, CEO of FendX states, "We are pleased to be working with the LA Fitness Vaughan club to test our REPELWRAP™ film. Gyms and fitness centers can be important venues, as they have a significant number of high-traffic, high-touch surfaces." Dr. Myers continues, "Conducting testing with LA Fitness will provide us with valuable insights into the performance of REPELWRAP™ film. This is our sixth testing site, and we are excited to engage with various industry testing partners to assess the film's performance under different conditions and across different industry sectors."
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 FENDX TECHNOLOGIES INC.
"Carolyn Myers" Carolyn Myers Chief Executive Officer and Director
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; anticipate that real world testing will provide insights for manufacturing process with Dunmore; the completion of pilot runs with Dunmore; statements regarding the successful completion of optimizing the manufacturing process; statements regarding the plans to conduct real world testing with LA Fitness 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 intention to engage with various industry testing partners to assess the film's performance under different conditions and across different industry sectors; the anticipated details and perceived benefits of the real-world testing with LA Fitness; the Company's belief that REPELWRAP™ film 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.
