FendX Provides Corporate Update

Rhea-AI Summary

FendX (OTCQB: FDXTF) announced strategic shifts and development milestones on March 31, 2026, prioritizing a newly developed liquid surface coating with a provisional patent and discontinuing REPELWRAP film development.

The company filed provisional patents for a Foley catheter coating and an AI contamination detection app, entered a collaboration with Aquaox, completed share-for-debt settlements totaling $89,578 via issuance of 242,102 shares, and renewed IR services with a $28,080 fee reduction.

Positive

• Provisional patents filed for liquid coating, Foley catheter coating, and AI app
• Share-for-debt settlements reduce liabilities by $89,578 via issuance of 242,102 shares
• Collaboration begun with Aquaox to explore eco-friendly antimicrobial agents
• IR fee reduction of $28,080 under renewed investor relations agreement

Negative

• Discontinued REPELWRAP film development, removing that product path
• Terminated McMaster license agreements effective Feb 1–2, 2026, potentially delaying prior commercialization routes

Vancouver, British Columbia--(Newsfile Corp. - March 31, 2026) - FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D0) (the "Company" or "FendX"), an innovative surface protection company developing technology-based solutions to reduce the spread of harmful pathogens, is pleased to provide a corporate update from Dr. Carolyn Myers, the Company's President and CEO.

Dear FendX Shareholders,

Over the past several months, FendX has achieved meaningful progress across our protective surface coatings portfolio and business development initiatives. Our mission remains clear: to make everyday environments safe by reducing the spread of harmful pathogens on surfaces. As we advance our technologies, we continue to focus on strategic priorities that we believe will strengthen our product pipeline, expand our intellectual portfolio, and enhance long-term shareholder value.

Protective Surface Coatings Achievements

Liquid Surface Coating. In collaboration with McMaster University, the Company developed a new liquid surface coating that has demonstrated strong effectiveness against MRSA and P. aeruginosa, along with encouraging durability for long-lasting protection. This advancement led to the filing of a provisional patent announced on October 21, 2025, with FendX as the assignee.

Given the promising performance, broad applicability and ease of application for long-lasting surface protection, the Company has elected to prioritize its development. The Company believes the liquid coating offers a streamlined pathway to commercial scale-up with an expected low cost of manufacturing.

As part of this strategic shift, the Company has discontinued additional development of REPELWRAP film and terminated the Standard License Agreement with McMaster with a termination notice signed by both parties on March 27, 2026, with an effective of February 1, 2026. Additionally, as the Company is now focused on advancing the new liquid coating formulation, it has terminated the License Agreement for the original liquid coating formulation, with a termination notice signed by both parties on March 27, 2026, with an effective date of February 2, 2026.

These decisions align the Company's efforts with what it believes is the most commercially promising surface protection technology and eliminates future licensing payment obligations to McMaster. The Company continues to have excellent collaborations with McMaster and looks forward to future joint initiatives with the university.

Foley Catheter Coating. The Company has advanced a specialized coating for Foley catheters, under the Collaborative Research Agreement ("CRA") with McMaster. Initial lab testing has shown promising reductions in E. coli growth and strong durability. This work resulted in the filing of a provisional patent, announced August 26, 2025, with FendX as the assignee. The Company plans to engage a third-party lab for expanded bacterial and durability testing as development continues.

The Company also announces it signed an amendment agreement with McMaster on March 27, 2026 with an effective date of November 30, 2025 to extend the term of the Catheter CRA to May 31, 2026 and reduce payment commitments.

Business Development Achievements

AI-Driven Surface Contamination Detection App. The CEO of FendX filed a provisional patent, as disclosed on August 20, 2025, for an AI-enabled mobile app to be designed to detect microbial contamination on surfaces in real time using mobile imaging and reagents. FendX will be the assignee of the patent. The Company is currently working in good faith with a third-party to build the imaging technology required for app software and intends to enter into a service agreement with this third party for this development. Once development is complete, the app will undergo beta-testing to validate its accuracy and usability. This digital platform, which will be owned by FendX, is expected to complement the Company's physical technologies and expand FendX's reach into real-time monitoring and data-driven hygiene solutions.

Collaboration Agreement with Aquaox LLC. On January 22, 2026, the Company entered into a Collaboration Agreement with Aquaox LLC to explore development of new eco-friendly antimicrobial agents. This initial phase of the collaboration will assess technical feasibility of producing non-toxic, eco-friendly, and highly effective antimicrobial formulations. If successful, the collaboration may progress toward developing novel antimicrobial agents for consumer, commercial and healthcare markets.

Furthermore, we continue to seek other innovations aimed at reducing the spread of pathogens through potential acquisitions or licensing opportunities. Our goal is to complement our existing product portfolio, enhance our intellectual property portfolio, and develop potential future solutions that enhance hygiene practices and promote safety in everyday life.

Intellectual Property

Protecting our innovations remains a core priority. Recent intellectual property ("IP") developments include provisional patents for our new liquid surface coating formulation and Foley catheter coating, as well as the provisional patent filed for the AI-driven microbial contamination detection app. These filings underscore our commitment to advancing technologies that address real-world challenges in pathogen reduction and public health.

These proactive steps to IP management reinforce FendX's momentum in surface protection innovations while positioning the Company for future growth and opportunities.

Capital Structure and Financial Position

Our operational goals and future growth could not be accomplished without having a focus on financial position and capitalization structure. To this end, we undertook an initiative to optimize the share structure of the Company by consolidating the common shares of the Company with the intent of attracting additional financing and positioning the Company for growth. Additionally, the Company has carried out several debt settlement transactions with insiders and certain consultants in order to improve the Company's financial position by reducing its existing liabilities. We believe these strategic actions were essential as we advance our technologies and seek to maximize value for our shareholders.

Moving Forward - 2026 Key Milestones:

• Advance the liquid surface coating toward scale-up. We plan to complete additional antimicrobial testing and then engage a manufacturer to begin scale-up activities. With its ease of application and anticipated cost-effective manufacturing, the liquid coating represents a more versatile, timely and commercially scalable solution than film-based technologies.

• Complete testing of the Foley catheter coating. We plan to finalize testing in McMaster's lab and subsequently engage a third-party lab to conduct expanded bacterial and durability testing. This work will also inform the development of a regulatory pathway and outline the steps that would be required for any future device approval, positioning the technology for potential entry into the medical device market.

• Finalize app development. The app is being developed by a third-party that the Company intends to sign a service agreement with. Once complete, the app will be beta tested to validate its accuracy and usability. The intent is to launch a final app on both the Apple App and Google Play Stores. This digital platform would complement our physical technologies and expand FendX's reach into real-time monitoring and data-driven hygiene solutions.

• Assess surface disinfectant development. Together with Aquaox LLC, we will assess the technical feasibility of developing formulations of highly effective antimicrobial formulations. If successful, the collaboration is expected to advance into product development under a separate agreement, potentially broadening our portfolio into the disinfectant category.

We look forward to sharing further developments in the coming months and will continue to provide updates through news releases, available under the "News" section of our FendX website at www.fendxtech.com.

FendX extends its gratitude to its shareholders, employees and consultants for their continued support as we advance our innovative technologies to protect surfaces from harmful pathogens.

Other Corporate Updates

The Company also announces it intends to complete share for debt settlements with three arm's length creditors at a deemed price of $0.37 per share, to settle an aggregate of $89,578 of consulting fees which were payable in cash and shares, through the issuance of 242,102 common shares ("Shares"). The Shares proposed to be issued pursuant to the debt settlements will be subject to a statutory four month and one day hold period in accordance with applicable securities laws. The closing of the debt settlements will be subject to certain customary conditions precedent, including the Company's receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange (the "CSE").

None of the securities to be issued in connection with the debt settlements, will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Also, the Company is pleased to announce that it has further renewed the investor relations and marketing services agreement dated March 11, 2025 with Outside The Box Capital Inc. ("OTB") previously announced on March 12, 2025, July 7, 2025 and October 17, 2025 for the provision of investor relations, marketing and distribution services (the "IR Services"). The Company and OTB entered into a third renewal agreement dated March 30, 2026 (the "OTB Agreement") which renewed and extended the term of the original agreement to June 30, 2026 for no additional cost to the Company but with a fee reduction of $28,080 (inclusive of taxes). The IR Services include social media, digital and influencer-based marketing, content creation and distribution across social channels that include Reddit, Discord, Telegram, X (formerly Twitter), and StockTwits, and other related investor communication and marketing services. OTB and its principals are arm's length to the Company. OTB's contact information is as follows: 2202 Green Orchard Place, Oakville, Ontario, L6H 4V4, attention: Jason Coles, email: jason@outsidethebox.capital, telephone: 289-259-4455.

About FendX Technologies Inc.

FendX is a surface protection company developing innovative solutions to help reduce the spread of harmful pathogens in everyday environments. Leveraging proprietary technologies, the Company is advancing a portfolio of protective surface coatings, including a liquid-based nano-coating technology and a specialized Foley catheter coating. The Company is focussed on building a robust intellectual property portfolio in the surface protection space and is committed to identifying and advancing new technologies and materials that enhance hygiene and safety across healthcare, consumer and commercial settings.

ON BEHALF OF THE COMPANY

"Carolyn Myers"
Carolyn Myers
Chief Executive Officer and Director

For further information, please contact:

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 certain forward-looking statements within the meaning of Canadian securities legislation, including with respect to: the plans of the Company; statements regarding the proposed development plans for each of its liquid surface nano-coating and the Foley catheter coating formulations and the app under development; statements regarding the proposed debt settlements, and closing of the debt settlements; statements regarding the OTB Agreement and proposed IR Services to be provided and anticipated timing of the IR Services; statements regarding expanding the Company's product and IP portfolio and assignments of patents to FendX; statements regarding entering into a service agreement with the third party to develop the app and statements regarding the planned development, beta testing and commercialization of the app and expected benefits for FendX; statements regarding the benefits, more streamlined pathway for commercial scale-up and low cost of manufacturing for the new liquid surface coating; statements regarding the collaboration agreement and plans with Aquaox LLC; statements regarding seeking other innovations and business development opportunities; 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 Company will not complete financings or raise sufficient funds to complete all of its planned activities; risks that the debt settlements will not receive all required regulatory approvals, including CSE approval, or will not close; risks that the OTB Agreement may not receive regulatory approval, if required; risks that the Company's products may not perform as, or have the benefits, expected; risks related to research and development activities; risks that the Company's products 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 intellectual property; risks and uncertainties associated with the Company's ability to raise additional capital; 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/290567

FAQ

What did FendX (FDXTF) announce about its liquid surface coating on March 31, 2026?

FendX said it is prioritizing a newly developed liquid surface coating with a provisional patent and strong lab results. According to the company, the coating showed effectiveness against MRSA and P. aeruginosa and is considered cost‑effective for scale‑up.

How will the March 2026 share-for-debt settlement affect FendX (FDXTF) shareholders?

FendX plans to settle $89,578 of consulting fees by issuing 242,102 common shares at a deemed $0.37 price. According to the company, shares will be subject to a four‑month plus one‑day hold and regulatory approvals.

What is the status of FendX's Foley catheter coating development as of March 31, 2026?

FendX reported promising lab results and filed a provisional patent for the Foley catheter coating. According to the company, testing will continue at McMaster and a third‑party lab to inform regulatory pathways and device development.

What are FendX's plans for the AI-driven surface contamination detection app (FDXTF)?

FendX is developing an AI‑enabled mobile app and filed a provisional patent, then will beta test the app before launch. According to the company, a third‑party is building imaging tech and a service agreement is intended for completion.

What did FendX announce regarding its agreements with McMaster University on March 31, 2026?

FendX terminated certain license agreements and amended the catheter CRA to extend term and reduce payments. According to the company, terminations were effective Feb 1–2, 2026 and the catheter CRA now runs to May 31, 2026.

How does FendX's collaboration with Aquaox announced January 22, 2026 affect product strategy?

FendX entered a collaboration to assess feasibility of eco‑friendly antimicrobial agents, potentially expanding into disinfectants. According to the company, successful feasibility could lead to separate product development agreements.