FendX Technologies Inc. announced that it has entered into a Collaborative Research Agreement ("CRA") dated July 20, 2023 with McMaster University ("McMaster") which details the research and development plan of the spray coating formulation licensed by the Company pursuant to a license agreement between the Company and McMaster (the "License Agreement") disclosed in the Company's press release dated May 17, 2023. The CRA outlines more fully the research and development work to be conducted by McMaster on behalf of FendX as well as a payment schedule for the maximum research funding requirements for 2023 and 2024 that were set out in the License Agreement, as amended. The term of the CRA is for 18 months commencing on the effective date of July 1, 2023, unless terminated in accordance with the provisions of the CRA.

The Company also announces it has entered into an amendment to the spray License Agreement dated July 20, 2023 such that the maximum research funding to McMaster for the spray coating formulation work was amended to $85,169 for 2023 and $168,468 for 2024.