공지 • Jan 28
FRX Innovations Listing Transfer to NEX from Tier 2 Effective January 29 TSX Venture Exchange has accepted for filing documentation with respect to Stock Purchase Agreement (the "Agreement") dated November 27, 2024, between the Company and FRX Acquisition Inc., a Delaware corporation ("Buyer"), whereby the Company will sell all equity interests in its wholly-owned operating subsidiary FRX Polymers Inc. (the "Subsidiary"). In accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective at the open on January 29, 2025, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Toronto to NEX. The trading symbol for the Company will change from FRXI to FRXI.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market. As of January 29, 2025, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies. The Company is classified as a 'Resin, Synthetic Rubber, and Artificial and Synthetic Fibres and Filaments Manufacturing' company. 공지 • Jan 24
FRX Acquisition, Inc. completed the acquisition of Frx Polymers Inc. from FRX Innovations Inc. (TSXV:FRXI). FRX Acquisition, Inc. agreed to acquire Frx Polymers Inc. from FRX Innovations Inc. (TSXV:FRXI) for $1.65849 million on November 27, 2024. As part of consideration, $1.5 million is paid towards common equity and $0.15849 million is paid towards convertible debt of Frx Polymers Inc. In case of termination of transaction, FRX Innovations Inc. will pay a termination fee of $0.50 million.
Transaction is also subject to the approval of FRX Innovations's shareholders pursuant to the Canada Business Corporations Act (the “CBCA”) and minority Shareholders pursuant to MI 61-101, the approval of the TSX Venture Exchange and the approval of the Belgian Interfederal Screening Committee. As of December 27, 2024 the transaction was approved by the shareholders of FRX Innovations Inc. (TSXV:FRXI).
FRX Acquisition, Inc. completed the acquisition of Frx Polymers Inc. from FRX Innovations Inc. (TSXV:FRXI) on January 23, 2025. 공지 • Oct 18
FRX Innovations Inc., Annual General Meeting, Dec 16, 2024 FRX Innovations Inc., Annual General Meeting, Dec 16, 2024. New Risk • Jun 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (38% average weekly change). Earnings have declined by 9.1% per year over the past 5 years. Market cap is less than US$10m (€4.03m market cap, or US$4.31m). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Shareholders have been diluted in the past year (19% increase in shares outstanding). Revenue is less than US$5m (US$3.0m revenue). 공지 • Mar 03
FRX Innovations Inc. announced that it has received CAD 0.945313 million in funding FRX Innovations Inc. announced a non-brokered private placement of 18,906,266 units of the company at a price of CAD 0.05 per unit for the gross proceeds of CAD 945,313 on March 1, 2024. Each Unit consists of one common share of the company. Each warrant shall entitle the holder thereof to purchase one additional common share of the company at a 100% price premium of CAD 0.10 at any time on or before the 24-month anniversary of the date of closing. 공지 • Dec 07
FRX Innovations Inc. Announces Commercial Product Launches of New Nofia® Based Products FRX Innovations Inc. announced commercial product launches of new Nofia® based products by two globally recognized chemical companies, and one important regional producer, this quarter. Commercial shipments will commence this month against purchase orders, for one of these applications. Each application is poised to significantly contribute to FRX's projected year-over-year revenue growth for 2024. The first is expected to generate USD 1 million in Nofia® product sales in 2024, and the others in excess of USD 0.5 million. FRX expects to realize a contribution margin of about 45% over variable costs on both pieces of business. Two applications leverage the unique benefits which FRX's Nofia ® flame retardants bring in polyurethane, targeting highly attractive markets such as Clean Energy, and Automotive. This is yet further evidence that top chemical companies around the world, with access to all available technologies, are choosing Nofia products from FRX to meet the high-performance standards required for these markets, at a competitive cost for the benefits provided. The third new product is being introduced by a major Asian specialty chemicals manufacturer with global leadership in polyester. FRX delivers a range of Nofia ® products suitable for use in polyester applications, such as textiles used in transportation and hospitality markets, films used in automotive applications, films used in electronic devices and structural foam used in transportation and building and construction applications. Strong Sales Pipeline: FRX's sales pipeline consists of 237 customer projects. Nearly 70% (187 customer projects) are less than 12 months old. These customers are turning to FRX due to an urgency to replace their lines of legacy brominated and PFAS flame retardants, with 36% of all customer projects focused on PFAS replacement. Reported Earnings • Dec 01
Third quarter 2023 earnings released: US$0.02 loss per share (vs US$0.022 loss in 3Q 2022) Third quarter 2023 results: US$0.02 loss per share. Revenue: US$629.1k (up 58% from 3Q 2022). Net loss: US$2.03m (loss widened 15% from 3Q 2022). Revenue is forecast to grow 87% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Chemicals industry in Germany. Board Change • Oct 18
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. 2 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Director Ekaterina Terskin is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. 공지 • Aug 03
FRX Innovations Inc. Appoints Patrick Muezers to Its Board of Directors FRX Innovations announced the appointment of Mr. Patrick Muezers to its Board of Directors. Mr. Muezers has over twenty years of experience in building and growing specialty chemical companies globally. Most recently, he successfully completed an M&A transaction for Polyscope Polymers B.V. ("Polyscope"), a European specialty plastics company that he founded and grew through to a successful exit. During his tenure as Managing Director of Polyscope, Mr. Muezers attracted a top-tier senior leadership team and a world-class Board of Directors with deep market expertise. In a short span, Polyscope became a highly profitable enterprise, servicing the plastics industry with customers around the world. He currently also serves on the Advisory Board of Arion, and previously served for seven years on the board of RAI Automotive Group. As a result of his growing commitments as CEO of Platinum Group Metals, contemporaneously with the appointment of Mr. Patrick Muezers, Mr. Frank Hallam will be transitioning from the FRX Board of Directors, where he served as Director and Chair of the Company's audit committee.