FendX Announces Share Issuance Pursuant to IP License Agreement

Oakville, Ontario–(Newsfile Corp. – May 5, 2025) – FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D) (the “Company” or “FendX“), a nanotechnology company developing surface protection coatings to reduce the spread of pathogens, announces it has completed the issuance of common shares as consideration under the exclusive intellectual property license agreement (the “License Agreement”) entered into with Scott Smith and US BioSolutions LLC previously announced on April 24, 2025, pursuant to which FendX issued 1,000,000 common shares at a deemed price of $0.10 per share to Mr. Smith. The shares issued are subject to a Canadian hold period expiring four months and one day from the date of issuance as well as a United States hold period, in accordance with applicable securities laws.

Pursuant to the License Agreement, the Company acquired an exclusive license to three patent applications from Mr. Smith related to the use of a sponge made from Open-Cell foam to be supplied from US BioSolutions in cleaning surfaces and for use of the sponge as a future wound care drug delivery device, as well as the licensed trademark, BioFoam® from US BioSolutions. In addition, the Company also entered a supply agreement (the “Supply Agreement”) with US BioSolutions where US BioSolutions would supply the Company with bulk rolls of Open-Cell foam, manufactured using their proprietary manufacturing trade-secrets and know-how, which FendX can exclusively use to create a line of eco-friendly sponge products for sale and distribution in consumer, retail and other commercial cleaning markets.

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 technology and an IP portfolio from McMaster, which encompass both film and spray coating nanotechnology formulations. The Company has also entered into a supply agreement which provides FendX with a supply of bulk rolls of proprietary manufactured Open-Cell foam which FendX intends to use further process into a line of eco-friendly sponge products as well as a license agreement for IP related to the use of the sponge in cleaning surfaces and for use of the sponge as a future wound care drug delivery device.

For more information, please visit mandrillapp.com/track/click/30568383/fendxtech.com?p=eyJzIjoiWEZlVEJDTjUyYVNyNE5pTVJFcldzRmJPZ0xVIiwidiI6MiwicCI6IntcInVcIjozMDU2ODM4MyxcInZcIjoyLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL2ZlbmR4dGVjaC5jb21c… 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; the Company’s intention to create a differentiated finished line of eco-friendly sponge products for sale and distribution in consumer, retail and other commercial target markets worldwide, including wound care; 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 the License Agreement or Supply 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 any proposed eco-friendly sponge products; risks related to the supply of bulk foam sponge rolls and securing a manufacturer to finish end sponge 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/250918