FendX Announces Share Issuance Pursuant to IP License Agreement
FendX Technologies (FDXTF) has completed a share issuance of 1,000,000 common shares at $0.10 per share to Scott Smith as part of an exclusive intellectual property license agreement. The agreement grants FendX exclusive rights to three patent applications related to BioFoam® technology, which involves using Open-Cell foam for surface cleaning and potential wound care drug delivery applications.
Additionally, FendX secured a supply agreement with US BioSolutions to receive bulk rolls of Open-Cell foam, manufactured using proprietary methods. This agreement enables FendX to develop and distribute eco-friendly sponge products across consumer, retail, and commercial cleaning markets. The issued shares are subject to hold periods in both Canada and the United States.
FendX Technologies (FDXTF) ha completato l'emissione di 1.000.000 azioni ordinarie al prezzo di 0,10$ per azione a favore di Scott Smith, nell'ambito di un accordo esclusivo di licenza di proprietà intellettuale. L'accordo concede a FendX i diritti esclusivi su tre domande di brevetto relative alla tecnologia BioFoam®, che utilizza schiuma a celle aperte per la pulizia delle superfici e potenziali applicazioni di somministrazione di farmaci per la cura delle ferite.
Inoltre, FendX ha stipulato un accordo di fornitura con US BioSolutions per ricevere rotoli sfusi di schiuma a celle aperte, prodotti con metodi proprietari. Questo accordo permette a FendX di sviluppare e distribuire prodotti spugna ecologici nei mercati consumer, retail e della pulizia commerciale. Le azioni emesse sono soggette a periodi di blocco sia in Canada che negli Stati Uniti.
FendX Technologies (FDXTF) ha completado la emisión de 1.000.000 acciones comunes a $0.10 por acción a Scott Smith como parte de un acuerdo exclusivo de licencia de propiedad intelectual. El acuerdo otorga a FendX derechos exclusivos sobre tres solicitudes de patente relacionadas con la tecnología BioFoam®, que utiliza espuma de células abiertas para la limpieza de superficies y posibles aplicaciones en la administración de medicamentos para el cuidado de heridas.
Además, FendX aseguró un acuerdo de suministro con US BioSolutions para recibir rollos a granel de espuma de células abiertas, fabricada mediante métodos propietarios. Este acuerdo permite a FendX desarrollar y distribuir productos de esponja ecológicos en los mercados de consumo, venta minorista y limpieza comercial. Las acciones emitidas están sujetas a períodos de retención tanto en Canadá como en Estados Unidos.
FendX Technologies (FDXTF)는 독점 지적 재산권 라이선스 계약의 일환으로 Scott Smith에게 주당 0.10달러에 1,000,000 보통주를 발행 완료했습니다. 이 계약은 FendX에게 BioFoam® 기술과 관련된 세 건의 특허 출원에 대한 독점 권리를 부여하며, 이 기술은 개방형 셀 폼을 사용해 표면 청소 및 상처 치료 약물 전달에 활용될 수 있습니다.
또한 FendX는 독점 제조 방식을 사용해 개방형 셀 폼 벌크 롤을 공급받기 위해 US BioSolutions와 공급 계약을 체결했습니다. 이 계약을 통해 FendX는 친환경 스펀지 제품을 소비자, 소매 및 상업용 청소 시장에 개발 및 유통할 수 있습니다. 발행된 주식은 캐나다와 미국 모두에서 보유 기간이 적용됩니다.
FendX Technologies (FDXTF) a émis 1 000 000 d'actions ordinaires au prix de 0,10 $ par action à Scott Smith dans le cadre d'un accord exclusif de licence de propriété intellectuelle. Cet accord confère à FendX les droits exclusifs sur trois demandes de brevet relatives à la technologie BioFoam®, qui utilise une mousse à cellules ouvertes pour le nettoyage des surfaces et des applications potentielles de délivrance de médicaments pour les soins des plaies.
De plus, FendX a conclu un accord d'approvisionnement avec US BioSolutions pour recevoir des rouleaux en vrac de mousse à cellules ouvertes, fabriquée selon des méthodes propriétaires. Cet accord permet à FendX de développer et distribuer des produits éco-responsables à base d'éponge sur les marchés grand public, de détail et du nettoyage commercial. Les actions émises sont soumises à des périodes de blocage au Canada et aux États-Unis.
FendX Technologies (FDXTF) hat eine Ausgabe von 1.000.000 Stammaktien zu je 0,10 $ an Scott Smith im Rahmen einer exklusiven Lizenzvereinbarung für geistiges Eigentum abgeschlossen. Die Vereinbarung gewährt FendX exklusive Rechte an drei Patentanmeldungen zur BioFoam®-Technologie, die offenporigen Schaum für die Oberflächenreinigung und potenzielle Anwendungen in der Wundheilungsmedikation nutzt.
Darüber hinaus sicherte sich FendX eine Liefervereinbarung mit US BioSolutions für den Bezug von Großrollen offenporigen Schaums, der mit proprietären Verfahren hergestellt wird. Diese Vereinbarung ermöglicht es FendX, umweltfreundliche Schwammprodukte für Verbraucher-, Einzelhandels- und gewerbliche Reinigungsmärkte zu entwickeln und zu vertreiben. Die ausgegebenen Aktien unterliegen Haltefristen in Kanada und den USA.
- Acquisition of exclusive license for three patent applications expanding product portfolio
- Secured exclusive rights to BioFoam® trademark and proprietary foam technology
- Established supply agreement for exclusive distribution rights in cleaning markets
- Strategic expansion into eco-friendly cleaning products market
- Share dilution through issuance of 1,000,000 new common shares
- Shares subject to hold periods in both Canada and US, limiting immediate tradability
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
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.
ON BEHALF OF THE COMPANY
"Carolyn Myers"
Carolyn Myers
Chief Executive Officer and Director
Contact:
Dr. Carolyn Myers, CEO and Director
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; 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
FAQ
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What is the supply agreement between FendX and US BioSolutions?
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