FendX Receives DTC Eligibility
Oakville, Ontario--(Newsfile Corp. - August 9, 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, is pleased to announce that its common shares currently listed on the OTCQB Venture Market (the "OTCQB") under the symbol "FDXTF" are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. "DTC eligible" securities can be electronically cleared and settled, which simplifies the process of trading, improves execution speeds and enhances liquidity in the United States.
"We are pleased to have obtained DTC eligibility," said Dr. Carolyn Myers, President and CEO of FendX. "This is an important step for FendX as DTC eligibility speeds up the process and reduces the cost of trading FendX's shares in the U.S."
The Company also announces that it has entered into an amendment agreement with Triple Bull Consulting Inc. ("Triple Bull") dated August 9, 2023 which amends the agreement between the Company and Triple Bull dated April 11, 2023, as amended April 18, 2023, which was announced by the Company in its news releases dated April 12, 2023 and April 19, 2023. The amendment agreement extends the term of the agreement from 4 months to 10 months from the effective date of April 11, 2023 at no additional cost.
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.
Dr. Carolyn Myers, CEO and Director
Alyssa Barry, Investor Relations
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.
This news release contains certain forward-looking statements within the meaning of Canadian securities legislation, including with respect to: the plans of the Company; anticipated benefits of achieving DTC eligibility; and products under development, commercialization plans 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/176635