Nanotechnology performance from testing will provide insights to continue to advance towards commercial production
Oakville, Ontario--(Newsfile Corp. - June 4, 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 Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A) ("Draganfly") an award winning, industry leading drone solutions and systems developer.
FendX has been conducting pilot test runs with Dunmore International Inc., using their commercial manufacturing line to optimize the manufacturing process to create films for testing in real-world settings. After successful completion of optimizing the manufacturing process, FendX intends to conduct real-world testing with Draganfly pursuant to a previously signed letter of intent. Testing will entail covering a parcel delivery box that fits on Draganfly's heavy lift drones used to transport various payloads to their customers. These parcel delivery boxes can be subject to multiple touching and when in flight can be exposed to heavy winds and other environmental stresses. FendX believes subjecting its REPELWRAP™ film to this type of real-world environmental stress is an ideal way to assess the repelling properties of the film. After each flight, the film will be removed from the parcel delivery box and tested by FendX. FendX expects the results obtained will confirm the film maintains its repelling properties as demonstrated in McMaster University's lab.
FendX also plans to conduct real-world testing at Giulietta, an award winning and Michelin Guide recommended Italian fine dining restaurant (announced May 3, 2024), at Island View Place Care a senior care and memory residential community (announced May 10, 2024) and at El Mocambo, a live music and entertainment venue (announced May 16, 2024), to cover high touch surfaces in these facilities with REPELWRAP™ film. The Company now has four confirmed real-world testing sites and believes the findings from these sites as well as others the Company may partner with, will contribute to the final product design.
"Mission-critical deliveries in the medical and defence space could potentially greatly benefit from this technology. Draganfly is pleased to be working with FendX in a never-ending effort to improve our products for our customers.", said Cameron Chell, CEO of Draganfly.
Dr. Carolyn Myers, CEO of FendX states, "We are pleased to be working with Draganfly to test our REPELWRAP™ film under real-world conditions." Dr. Myers continues, "The environmental factors that the film will be subjected to will allow us to assess the performance of REPELWRAP™ film under these more stressful outdoor conditions. We are strategically choosing different industry testing partners to increase the breadth of our testing so we can assess performance of our film under different conditions and with different industry sectors and uses."
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 Draganfly Inc.
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) is the creator of quality, cutting-edge drone solutions, software, and AI systems that revolutionize the way organizations can do business and service their stakeholders. Recognized as being at the forefront of technology for over 24 years, Draganfly is an award-winning industry leader serving the public safety, public health, mining, agriculture, industrial inspections, security, mapping, and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.
For more information on Draganfly, please visit www.draganfly.com.
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 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; statements regarding the Company's scale-up and testing initiatives; statements regarding the successful completion of optimizing the manufacturing process; statements regarding the plans to conduct real world testing with Draganfly and a variety of test sites to assess performance and the intent to potentially engage additional testing sites in other industries; the expectation the results from real world testing will confirm the film maintains its repelling properties as demonstrated in McMaster University's lab; statements regarding testing partners, and others, will contribute to the final product design; the anticipated details and perceived benefits of the real-world testing with Draganfly; 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 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.
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