Kane Biotech Senior Management Purchases 1.9 Million Shares
WINNIPEG, Manitoba, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE, OTCQB:KNBIF), (the “Corporation” or “Kane Biotech”), today announced that Marc Edwards, Chief Executive Officer, and Ray Dupuis, Chief Financial Officer of Kane Biotech recently completed the purchases, from the open market, of a combined total of approximately 1.9 million shares of Kane Biotech’s common stock.
Marc Edwards, Kane Biotech’s Chief Executive Officer, stated, “I strongly believe in the future potential of our business, intellectual property and the world-class team we have assembled to take us there. I feel confident in investing in Kane Biotech as we begin solidifying commercial opportunities for the significant expansion and implementation of our anti-biofilm technologies. Biofilm is a very expensive problem in a wide variety of industries, there is no clear leader in the Biofilm space, and we’re determined to take on that leadership position.”
About Kane Biotech
Kane Biotech is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms.
The Corporation has a portfolio of biotechnologies, intellectual property (75 patents and patents pending, trade secrets and trademarks) and products developed by the Corporation’s own biofilm research expertise and acquired from leading research institutions. StrixNB™, DispersinB®, Aledex®, bluestem™, AloSera™, coactiv+™ and Kane® are trademarks of Kane Biotech Inc. The Corporation is listed on the TSX Venture Exchange under the symbol "KNE" and on the OTCQB Venture Market under the symbol “KNBIF”.
For more information, please visit www.kanebiotech.com or contact:
Ray Dupuis
Chief Financial Officer
Kane Biotech Inc.
+1 (204) 298-2200
ir@kanebiotech.com
Tirth Patel
Vice President - Investor Relations
Edison Advisors
+1 (646) 653-7035
tpatel@edisongroup.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
This press release contains certain statements regarding Kane Biotech Inc. that constitute forward-looking information under applicable securities law. 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. These risks and uncertainties include, but are not limited to, risks relating to the Company’s: (a) financial condition, including lack of significant revenues to date and reliance on equity and other financing; (b) business, including its early stage of development, government regulation, market acceptance for its products, rapid technological change and dependence on key personnel; (c) intellectual property including the ability of the Company to protect its intellectual property and dependence on its strategic partners; and (d) capital structure, including its lack of dividends on its common shares, volatility of the market price of its common shares and public company costs. Further information about these and other risks and uncertainties can be found in the disclosure documents filed by the Company with applicable securities regulatory authorities, available at www.sedar.com. The Company cautions that the foregoing list of factors that may affect future results is not exhaustive.
These risks and uncertainties should be considered carefully undue reliance should not be placed 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 Company cannot provide assurance that actual results will be consistent with these forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statement.
Released November 7, 2018