Oakville, Ontario--(Newsfile Corp. - September 25, 2023) - 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 engaged the services of Independent Trading Group (ITG), Inc. ("ITG") to provide services as a market maker in compliance with the policies and guidelines of the Canadian Securities Exchange and other applicable legislation. ITG will receive a fee of $7,000 plus applicable taxes per month. The agreement between the Company and ITG is for a term of two (2) months and may be renewed for subsequent periods of one (1) month if mutually agreed to in writing at least five (5) business days prior the end of the month unless the Company or ITG provides thirty (30) day written notice of termination to the other party. No stock options or other compensation are being granted in connection with the engagement. ITG does not currently own any securities of the Company; however, ITG and its clients may acquire an interest in the securities of the Company in the future.
ITG is an arm's length party to the Company. ITG's market making activity will be primarily to contribute to market liquidity of the Company's shares and/or correct temporary imbalances in the supply and demand of the Company's shares. ITG will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.
In addition, the Company announces it has entered into an agreement with Longtable Capital Partners ("Longtable") for Longtable to provide investor communication support/investor relations services to the Company in exchange for a monthly fee in the amount of $2,000 plus applicable taxes. The term of the engagement is for a period of three months ending December 25, 2023, subject to termination provisions, and may be renewed by mutual agreement of the parties. Longtable and its principals are arm's length to the Company. Longtable's contact information is as follows: 4603-1372 Seymour Street, Vancouver, BC, Canada, V6B 0L1, attention: Cole Stewart, email: cole@longtablecapital.com, telephone: 778-231-6324.
About Independent Trading Group (ITG), Inc.
Independent Trading Group (ITG), Inc. is a Toronto based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
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 an exclusive worldwide license 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
Alyssa Barry, Investor Relations
1-833-947-5227
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 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 involve several risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and that 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. Accordingly, the reader is urged to refer to the Company's such 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.
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