Not for distribution to U.S. news wire services or dissemination in the United States WINNIPEG, Manitoba, June 26, 2025 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE) (the “Company” or “Kane Biotech”) announces that today it has completed its previously announced conversion (the “Transaction”) of an unsecured demand loan of $1 million from an insider of the Company into a $1 million principal amount 3% unsecured convertible debenture that is due on June 26, 2030 (the “Debenture”). For further details on ...

Financial Performance - Total revenue for Q1 2025 was $412,513, a significant increase from $51,886 in Q1 2024, primarily driven by contract animal health manufacturing revenue for Dechra Veterinary Products, Inc. [8] - Gross profit for Q1 2025 was $42,447, compared to $40,051 in Q1 2024 [8]. - Total operating expenses for Q1 2025 were $1,203,505, down from $1,228,153 in Q1 2024 [8]. - Net loss for Q1 2025 was $(1,218,497), an improvement from a net loss of $(1,346,825) in Q1 2024 [8]. Corporate Developments - On April 28, 2025, the company announced a restructuring strategy focusing on its revyve™ biofilm dispersion technology-based wound care product portfolio [2]. - The company closed a $1.2 million private placement and a $1.0 million unsecured loan on May 5, 2025, and is implementing cost reduction initiatives to lower monthly operating costs [3]. - Two insiders surrendered a total of 3,372,095 RSUs for cancellation on May 9, 2025, as part of their commitment to the company [4]. - The former CEO filed a legal action for $445,000 related to his employment agreement, which the company plans to vigorously defend [4]. Strategic Focus - The interim CEO, Dr. Robert Huizinga, emphasized the execution of the restructuring strategy to create shareholder value by focusing on commercial opportunities in the US and streamlining operations to preserve cash [5]. - The company is committed to strengthening product distributor relationships, advancing its pipeline, and delivering long-term value to patients, partners, and shareholders [5]. Product Development - Kane Biotech is developing novel wound care treatments that target biofilms, which contribute to antibiotic resistance in wounds, with its revyve™ product line addressing both biofilms and wound bacteria [6].

Group 1 - Kane Biotech Inc. has completed a non-brokered private placement offering, issuing 12,000,000 common shares at a price of $0.10 per share, resulting in gross proceeds of $1,200,000 [2] - The net proceeds from the offering will be utilized for working capital and general corporate purposes [2] - The company has also secured an unsecured loan of $1,000,000 from an insider, which is interest-free and repayable on demand [3] Group 2 - The transactions are classified as "related party transactions" under Multilateral Instrument 61-101, with the company exempt from formal valuation and minority approval requirements [4] - Kane Biotech is focused on developing innovative wound care treatments that target biofilms, which contribute to antibiotic resistance and complicate wound healing [6]