Kane Biotech Announces Closing of Private Placement Offering with an Insider of the Company

Core Points - Kane Biotech Inc. has completed a non-brokered private placement offering of common shares, issuing 14,000,000 shares at a price of $0.05 per share, resulting in gross proceeds of $700,000 [2] - The net proceeds from the offering will be allocated for working capital and general corporate purposes [2] - The transaction is classified as a "related party transaction" under Multilateral Instrument 61-101, and the company is exempt from formal valuation and minority approval requirements [3] Company Overview - Kane Biotech is focused on developing innovative wound care treatments that target biofilms, which contribute to antibiotic resistance in wounds, leading to serious clinical outcomes and high costs [5] - The company's products, including revyve® Antimicrobial Wound Gel and revyve® Antimicrobial Wound Gel Spray, have received US FDA 510(k) clearance and Health Canada approval [5]