Oakville, Ontario–(Newsfile Corp. – June 24, 2024) – FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D) (the “Company” or “FendX”) has received a request from OTC Markets Group Inc. (“OTC Markets”) to issue a statement regarding recent promotional activity relating to the Company’s common shares (the “Common Shares”).
On Tuesday, June 18, 2024, the OTC Markets notified the Company that it had become aware of certain promotional activity relating to the Company and its common shares traded on the OTCQB Market. This included the distribution of content issued by Spartan Trading Inc. (“Spartan”) describing the Company, its business, operations, estimated target market and potential future growth opportunities. OTC Markets provided examples of promotional materials for the Company’s reference (the “Examples”). To the Company’s knowledge, Spartan is an affiliate of Spark Newswire Inc. (“Spark” and together with Spartan, the “Consultants”), a third-party marketing firm that was retained by the Company on May 9, 2024 to provide investor relations and digital marketing services. Details of Spark’s appointment, the nature of the Company’s relationship with Spark and the compensation payable to Spark were publicly disclosed in the Company’s news release dated May 10, 2024 and are available under the Company’s public profile at www.sedarplus.ca.
The consultants used publicly available sources, and the Company’s management reviewed the cases and provided commentary prior to their disclosure. The Company is not aware of any increased or unusual trading activity in its common stock as a result of these cases.
The Company has inquired with its management, officers, directors and third-party service providers, who have confirmed that none of them have bought or sold the Company’s securities in the past 90 days. Management’s inquiries have revealed that, except as described herein, none of the consultants, the Company’s executive officers, directors or controlling stockholders have bought or sold the Company’s securities in the past 90 days, and, except as described in the Company’s continuous disclosure documents, have been involved in the creation, distribution or payment of promotional materials. Spartan has notified the Company that it disposed of 5,000 shares of its common stock on June 14, 2024 and acquired 50,000 shares of its common stock on June 18, 2024, respectively, on the OTCQB facilities. Except as previously disclosed in the Company’s public filings, the Company has not issued any shares or convertible securities convertible into equity securities at a discount to the current market rate at the time of issuance.
The Consultant-prepared Content contains factual statements about the Company, its business, operations and industry. The Company believes that there are no materially false or misleading statements in the Examples. As described in the Examples, the Company wishes to make clear to investors (consistent with the cautionary language contained in the Company’s continuous disclosure records available at www.sedarplus.ca) that the Company is an early-stage issuer, the overall scale and economic potential of the Company’s business has not yet been established, and the Company may not achieve its growth objectives in the foreseeable future or at all. All investors are encouraged to review the Company’s continuous disclosure filings for comprehensive and up-to-date risk disclosures.
Over the past 12 months, we have engaged ARU Global Inc., Black Swan Solutions Inc. (dba VHLA Media), Fairfax Partners Inc., i2i Marketing Group LLC, IRLabs Inc., Longtable Capital Partners, MIC Market Information & Content Publishing GmbH, Media One AG, Marco Messina, Medical Gold Limited Liability Company, Spark Newswire, Spotlight Media Corp., Triomphe Holdings Ltd (DBA Capital Analytica) and Triple Bull Consulting Inc. to provide marketing, investor relations, public relations and other related services to the Company.
About FendX
FendX is a Canada-based nanotechnology company focused on developing products that reduce the spread of pathogens to make people’s lives safer. The company develops both film and spray products to protect surfaces from contamination. Its flagship product in development, REPELWRAP™ Film, is a protective surface coating film that prevents pathogen attachment and reduces pathogen transmission on surfaces prone to contamination due to its repellent properties. Spray Nanotechnology is a bi-functional spray coating being developed to reduce surface contamination by repelling and killing pathogens. The company conducts research and development activities using nanotechnology in collaboration with industry-leading partners such as McMaster University, from which the company has an exclusive worldwide license to the technology and IP portfolio, including both film and spray coating nanotechnology formulations.
“Carolyn Myers”
Carolyn Myers
Chief Executive Officer and Director
Contact: Dr. Carolyn Myers, CEO and Director
1-908-672-9611
email address
For more information, please visit https://fendxtech.com/ and the Company’s profile on SEDAR+ at www.sedarplus.ca.
Forward-Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking statements”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. All statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements, and include statements regarding the Company, its plans and operations (including the expected benefits to the Company), research and development of products in development, and the Company’s business outlook, future trends, plans and strategies. In some cases, forward-looking statements may be preceded, followed or include words such as “may,” “will,” “would,” “could,” “should,” “believe,” “estimate,” “anticipate,” “potential,” “expect,” “plan,” “project,” “continue,” or the negative of such words, or other similar or comparable words. In making the forward-looking statements in this press release, the Company has applied several significant assumptions, including, but not limited to, the assumption that general business and economic conditions will not change materially adversely. These forward-looking statements are based on reasonable assumptions and estimates of the Company’s management at the time the statements are made. Actual future results may differ materially because forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based on assumptions that the Company’s management believes to be reasonable as of this writing, there may be factors that cause results not to be as anticipated, estimated or intended, and therefore the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update any forward-looking statements with respect to beliefs, opinions, projections or other factors.
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