Kane Biotech Announces Extension of Warrants

WINNIPEG, Manitoba, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE, OTCQB:KNBIF), (the “Corporation” or “Kane Biotech”), today announced that it has amended the terms of its 34,504,997 common share purchase warrants (the “Warrants”) issued on July 17, 2017 (the “Initial Closing”) and August 17, 2017 (the “Final Closing”) pursuant to a private placement of units, by extending the expiry thereof from January 17, 2019 to July 17, 2020 for the 33,404,997 Warrants issued pursuant to the Initial Closing (the “Initial Closing Warrants”) and from February 17, 2019 to August 17, 2020 for the 1,100,000 Warrants issued pursuant to the Final Closing (the “Final Closing Warrants”). The TSX Venture Exchange has granted its approval for the extension to the term of the Initial Closing Warrants and Final Closing Warrants. The Corporation will send a notice to all holders of the Initial Closing Warrants and Final Closing notifying them of the extension to the Warrants.

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. Further information about risks and uncertainties can be found in the disclosure documents filed by the Corporation with applicable securities regulatory authorities, available at www.sedar.com. The Corporation 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 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.

Released November 12, 2018