Kane Biotech Appoints New CFO and Announces Addition of Commercialization Team Resources, Sales Representation Agreement for U.S. Market Expansion, and Grant of Options
WINNIPEG, MANITOBA -- (Marketwired) -- 01/05/16 -- Kane Biotech Inc. (TSX VENTURE:KNE) (the "Corporation"), a biotechnology company developing and commercializing products that prevent and remove microbial biofilms, is pleased to appoint Audrey Goertzen CPA, CGA as Kane Biotech's new Chief Financial Officer (CFO) replacing Mark Matthewson CPA, CA, effective January 4, 2016. Ms. Goertzen has broad experience in financial management and accounting over the past 22 years in public accounting, public and government crown corporations, as well as rapidly growing entrepreneurial companies. Mr. Matthewson's services had been provided to Kane Biotech through a Management Services Agreement with MKM Management Services Ltd.
"The board and management team welcomes Audrey to Kane Biotech as CFO and thanks Mark Matthewson and Christine Johnson for their valuable contribution and excellent financial skills provided to Kane over the past four years," stated Mark Ahrens-Townsend, President and Chief Executive Officer.
Commercialization Team Expansion
The Corporation is pleased to announce the following personnel who have joined the Kane Biotech team over the past few months to focus on the commercialization of Kane Biotech's expansive patented and patent protected anti-biofilm technology:
- Wendy Nachtigall - Director, Retail
- Erika Linden - Marketing Manager
- Avery-Anne Gervais - Retail Accounts Associate
- Andrea Gordon - Director, Regulatory and Quality Assurance
- Courtney Dalton - Supply Chain Manager
- Diane Gordon Pappas - Research Associate
Each brings a wealth of experience as well as new creativity, innovation, and energy to Kane Biotech as it develops and launches new products into new markets.
U.S. Sales Representation Agreement
Kane Biotech is excited to announce it has entered into a Sales Representation Agreement with a U.S. based marketing, consulting, and sales management firm specializing in the pet industry. Work has already started with Kane's commercialization team to launch the Corporation's bluestem™ pet oral care brand into the United States in Q1 2016. More information about bluestem™ can be found at www.bluestempets.com.
The Corporation has granted an aggregate of 2,825,000 stock options at an exercise price of $0.08 per common share to Kane Biotech's new employees and an advisor to management and the board. The options fully vest over a two-year period, are set to expire five years from the date of grant, and are subject to TSX Venture Exchange acceptance and the terms of Kane Biotech's stock option plan. In accordance with securities regulatory requirements, any shares issued pursuant to the exercise of such options will be subject to resale restriction for a period of four months from the date of the grant.
About Kane Biotech Inc.
Kane Biotech is a biotechnology company engaged in the development of products to prevent and disperse biofilms. Biofilms develop when bacteria, and other microorganisms, form a protective matrix that acts as a shield against attack. When in a biofilm, bacteria become highly resistant to antibiotics, biocides, disinfectants, high temperatures and host immune responses. This resiliency contributes to human health problems such as tooth decay, medical device associated infections and recurrent urinary tract infections.
Kane Biotech uses patent protected technology based on molecular mechanisms of biofilm formation and methods for finding compounds that inhibit or disrupt biofilms. The Corporation has evidence that this technology has potential to significantly improve the ability to prevent and/or destroy biofilms in several health, medical and industrial applications.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.
These statements reflect management's current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things: the Corporation's early stage of development, lack of product revenues and history of operating losses, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, supply of raw materials, income tax matters, management of growth, partnerships for development and commercialization of technology, effects of insurers' willingness to pay for products, system failures, dependence on key personnel, foreign currency risk, risks related to regulatory matters and risks related to intellectual property and other risks detailed from time to time in the Corporation's filings with Canadian securities regulatory authorities, as well as the Corporation's ability to anticipate and manage the risks associated with the foregoing. The Corporation cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Corporation's forward-looking statements to make decisions with respect to the Corporation's, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
These risks and uncertainties should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot provide assurance that actual results will be consistent with these forward-looking statements. The Corporation undertakes no obligation to update or revise any forward-looking statement.
StrixNB™, DispersinB®, Aledex®, bluestem™ and coactiv+™ are registered trademarks of Kane Biotech Inc. All Rights Reserved 2016.
Kane Biotech Inc.
President & CEO
Source: Kane Biotech Inc.
Released January 5, 2016