Jenex Enters Into Exclusive Product Development Agreement with Microbonds Inc. for Next Generation Thermal Therapy Insect Device
Toronto, Ontario--(Newsfile Corp. - October 18, 2016) - THE JENEX CORPORATION (TSXV: JEN) ("Jenex" or the "Corporation"), Rob Fia, CEO and Chairman of Jenex, reports the Corporation has entered into an exclusive product development agreement with Microbonds Inc. of Markham, Ontario to design Jenex's next generation thermal therapy insect device.
Microbonds, is an advanced coatings and electrical design company. Microbonds has worked with many of the largest semiconductor companies in the world and has technical expertise in chemical, mechanical, and electrical engineering and extensive experience in electronics manufacturing. Jenex's next generation thermal therapy insect device manufacturing will be sub-contracted to qualified manufacturing partners either locally or overseas based on economic, quality control and delivery time considerations.
Microbonds is a leading developer of advanced materials for a broad range of industries. Jenex will be incorporating Microbonds proprietary silver anti-microbial coating into the next generation thermal therapy insect device under an exclusive license agreement to provide additional benefit to its customers. Silver is a well-known anti-microbial agent with a deep history of efficacy and is currently used in a broad range of applications such as water and air filtration, wound/burn bandages, textiles, building supplies and food packaging. "We are delighted to be partnering with Microbonds in executing our overall strategic business plan" says Fia.
Jenex continues to seek a strategic corporate partner to license and market their next generation thermal therapy insect device in the US and various countries around the world. Jenex has made excellent progress in shortlisting various potential partners and expects to report back on this matter in the near future. The ideal partner would have extensive consumer product and marketing expertise and a well-established OTC distribution channels.
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
CEO & Chairman
Phone: (416) 722-4994
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES