Jenex Reports Significant Progress with Large Canadian Pharmacy Retailer for Intercept CS with Wide Canadian Retail Network

May 18, 2016 9:36 AM EDT | Source: Therma Bright Inc.

Toronto, Ontario--(Newsfile Corp. - May 18, 2016) - The Jenex Corporation (NEX: JEN.H) ("Jenex" or the "Company") would like to report that it has made significant progress with a large Canadian Pharmacy Retailer (the "Retailer") with a wide retail network across Canada. The Retailer has requested Point of Purchase ("POP") displays for Jenex's InterceptCS product. The POP displays will be presented to select stores within the Retailer's network to seed the market. If discussions with the Retailer prove successful the first shipment of product would occur during the early fall of 2016.

SEE POP DISPLAY LINK HERE:

http://www.interceptcs.com/retail-pop/

Jenex would also like to report that our online e-commerce channels continue to show strength as our social medial searches are trending with search engine optimization improving daily. This social media coverage has translated into increased activity on our e-commerce websites. Jenex has been posting brisk sales traffic as a result of the social media campaign. This encouraging potential retail customer revenue has been a long time coming and the first retail sales represent a significant step forward for the Company. Our contracted sales team is excited to extend these results as we work through the summer to secure a retail order by the fall of 2016.

New Product Development

As a result of the market launch through retail and online channels for InterceptCS we are also making progress in product development with new follow on products related to our future insect, acne and wrinkle devices. Jenex has shortlisted a number of medical device design companies for the development of the new products.

Once our new product line up has passed the proof of concept phase Jenex will review marketing the line up on its own or through partnership either on an exclusive on non-exclusive basis. In the event a partnership is chosen Jenex will discuss funding and a process for technology transfer, prototype development, and the type of contract that is mutually acceptable (to include milestone payments). We will report back on our product channel development during F2017.

Proposed $500,000 Financing

Jenex is currently investigating a financing whereby investors would receive special warrants exercisable into shares or units conditional upon a share consolidation occurring within a certain time frame.  Jenex will report back in a future press release regarding this financing. 

The Board of Directors has appointed Rob Fia to the position of Interim CEO effective immediately. He succeeds David Duranovich, who resigned from the Company and the Board to pursue other interests. The Board would like to thank David for his recent efforts and wish him success in his new endeavour.

Mr. Fia has been Chairman, a position he continues to hold, since 2009 and has been instrumental in advancing Jenex along with the rest of the Jenex team since 2009. Mr. Fia has a deep understanding of the business and the marketplace and will provide stability and direction for the Company as it pursues the exciting new retail and online opportunities ahead for Jenex.

In addition the Board of Jenex would like to announce that Mr. Joe Heng, CA, has joined the Board of Directors. Mr. Heng is a dedicated and result-oriented finance professional with progressive records of achievements including serving on many TSXV Boards and has acted as CFO over the past 10 years. Mr. Heng brings valuable expertise in business development, financial reporting, audit, finance and taxation.

Forward Looking Statements

This press release contains forward-looking statements. More particularly, this press release contains statements which include the timing of closing the offering, the anticipated use of proceeds and the receipt of the required approvals. The forward-looking statements are based on certain expectations and assumptions made by Jenex. Although Jenex believes that those expectations and assumptions are reasonable, undue reliance should not be placed on the forward-looking statements because Jenex can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those anticipated due to a number of factors and risks. In addition to other risks, the closing of the offering could be delayed if Jenex is not able to obtain necessary approvals when planned and the offering will not be completed at all if approvals are not obtained or some other condition to the closing is not satisfied. Accordingly, there is a risk that the offering will not be completed within the anticipated time or at all. The intended use of the net proceeds of the offering by Jenex might change if Jenex determines that it would be in the best interests of Jenex to use the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof. Jenex disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

The Jenex Corporation
Rob Fia
CEO & Chairman

Phone: (416) 722-4994
e-mail: rfia@thejenexcorporation.com

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES

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