FRX Innovations Inc. announced the successful execution of a third standstill agreement with one of its key supplier partners, creating an important catalyst in support of the Company's ongoing strategic options process. This agreement, which was executed on Nov. 27, 2023, establishes the terms for the resolution of current trade arrangements between the two companies and more specifically provides favorable payment terms to FRX, meaningfully enhancing the Company's ability to proceed, unfettered, in its strategic journey.

The agreement specifies mutually agreed structured payments, by FRX, and assigns a priority of payments in the event of a potential transaction supported by the company's shareholders and Board of Directors. FRX remains steadfast in its strategic options process, with the goal of maximizing shareholder value and positioning the company for long-term success. Further updates on the strategic options process will be provided as they become available.