Kane Biotech Announces Grant of Options
WINNIPEG, MANITOBA -- (Marketwired) -- 06/21/16 -- Kane Biotech Inc. (TSX VENTURE:KNE), a biotechnology company engaged in the development and commercialization of products that prevent and remove microbial biofilms is pleased to announce that the Company has granted an aggregate of 7,430,000 stock options at an exercise price of $0.06 per common share to directors, management, and employees of the Company. The options pursuant to the Corporation's stock option plan and are subject to TSX Venture Exchange acceptance. 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 recurrent urinary tract infections, medical device associated infections and tooth decay.
Kane Biotech uses patent protected technologies based on molecular mechanisms of biofilm formation/dispersal and methods for finding compounds that inhibit or disrupt biofilms. The Company has evidence that these technologies have potential to significantly improve the ability to prevent and/or destroy biofilms in several medical and industrial applications.
Neither the 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.
StrixNB™, DispersinB®, Aledex®, bluestem™, AloSera™ and Coactiv+™ are registered trademarks of Kane Biotech Inc. All Rights Reserved 2016.
Kane Biotech Inc.
Mark Ahrens-Townsend
President and CEO
204-477-7592 office
204-474-7552 (FAX)
ir@kanebiotech.com
Source: Kane Biotech Inc.
Released June 21, 2016