FendX Announces First Real-World Performance Testing Site for REPELWRAP(TM) Film at Award Winning Giulietta Restaurant

Oakville, Ontario--(Newsfile Corp. - May 3, 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 is preparing to conduct real-world testing and assessment of the repelling properties of REPELWRAP™ film at Giulietta, an award winning and MICHELIN Guide recommended Italian fine dining restaurant located in downtown Toronto, Ontario.

FendX is currently engaged with Dunmore International Inc. ("Dunmore"), to conduct pilot test runs on 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 at the high-end restaurant Giulietta to assess performance of REPELWRAP™ film on high touch surfaces in the restaurant, pursuant to a previously signed letter of intent. Testing will entail applying REPELWRAP™ film to high touch surfaces and assessing their performance over a four-week timeframe. FendX expects the results obtained will confirm the film maintains its repelling properties as demonstrated in McMaster University's lab.

David Minicucci, co-owner of Giulietta and Osteria Giulia restaurants states, "We are excited to be participating in FendX's pilot testing of their film to help protect surfaces and keep people safer."

Dr. Carolyn Myers, CEO of FendX states, "We are pleased with the advancements made to optimize REPELWRAP™ film at Dunmore and are excited to be preparing to conduct real-world testing at Giulietta." Dr. Myers continues, "Our intention is to announce additional test sites in various industries to conduct real-world testing, and these additional results, together with the findings from Giulietta, should provide us with robust data on the performance of REPELWRAP™ film that should contribute to the final product design and allow us to move to commercial production."

About REPELWRAP™ film

REPELWRAP™ film is the Company's lead 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 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 Giulietta and a variety of industry sites to assess performance, and the intent to potentially engage additional testing sites in other industries; the expectation that the results obtained will confirm the film maintains its repelling properties as demonstrated in McMaster University’s lab; the completion of and anticipated details and perceived benefits of the real-world testing at Giulietta including helping to protect surfaces and keep people safer; statements about moving towards large scale commercial production; statements regarding additional testing site results, together with the findings from Giulietta, should provide the Company with robust data on the performance of REPELWRAP™ film in various real-world settings, that should contribute to the final product design and allow the Company to move to commercial production; 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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