Kane Biotech Announces $3,000,000 Private Placement Offering
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) announces a non-brokered private placement offering of up to 30,000,000 common shares at $0.10 per share, aiming to raise up to $3,000,000. The proceeds will be used for working capital and general corporate purposes. CEO Marc Edwards states this financing will help accelerate key commercial programs and scale operations, with the goal of achieving EBITDA positivity by end of 2025. The offering is subject to TSX Venture Exchange approval and includes potential finder's fees for introducing subscribers.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) annuncia un'offerta di collocamento privato non intermedia di fino a 30.000.000 azioni ordinarie a $0,10 per azione, con l'obiettivo di raccogliere fino a $3.000.000. I proventi saranno utilizzati per il capitale circolante e scopi aziendali generali. Il CEO Marc Edwards afferma che questo finanziamento aiuterà ad accelerare programmi commerciali chiave e a scala le operazioni, con l'obiettivo di raggiungere la positività dell'EBITDA entro la fine del 2025. L'offerta è soggetta all'approvazione della TSX Venture Exchange e prevede potenziali commissioni per i broker che presenteranno abbonati.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) anuncia una oferta de colocación privada no intermediataria de hasta 30,000,000 acciones ordinarias a $0.10 por acción, con el objetivo de recaudar hasta $3,000,000. Los ingresos se utilizarán para capital de trabajo y fines corporativos generales. El CEO Marc Edwards afirma que este financiamiento ayudará a acelerar programas comerciales clave y a escalar las operaciones, con el objetivo de lograr una EBITDA positiva para finales de 2025. La oferta está sujeta a la aprobación de la TSX Venture Exchange e incluye posibles comisiones por encontrar suscriptores.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF)는 1주당 $0.10에 최대 30,000,000주를 발행하는 비중개 사모 발행을 발표하며, 이를 통해 최대 $3,000,000을 조달할 계획입니다. 조달된 자금은 운영 자본 및 일반 기업 용도로 사용됩니다. CEO Marc Edwards는 이 자금 조달이 주요 상업 프로그램을 가속화하고 운영 규모를 확대하는 데 도움이 될 것이며, 2025년 말까지 EBITDA 긍정성을 달성하는 것을 목표로 한다고 말했습니다. 이 발행은 TSX Venture Exchange의 승인을 받아야 하며, 구독자를 소개한 데 대한 중개 수수료가 포함될 수 있습니다.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) annonce une offre de placement privé sans courtier jusqu'à 30 000 000 d'actions ordinaires au prix de 0,10 $ l'action, visant à lever jusqu'à 3 000 000 $. Les recettes seront utilisées pour le fonds de roulement et les besoins généraux de l'entreprise. Le PDG Marc Edwards déclare que ce financement aidera à accélérer des programmes commerciaux clés et à augmenter les opérations, avec l'objectif d'atteindre une EBITDA positive d'ici la fin 2025. L'offre est soumise à l'approbation de la TSX Venture Exchange et comprend des frais de mise en relation potentiels pour les abonnés.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) kündigt ein nicht vermitteltes Privatplatzierungsangebot von bis zu 30.000.000 Stammaktien zu je $0,10 pro Aktie an, mit dem Ziel, bis zu $3.000.000 zu beschaffen. Die Einnahmen werden für Betriebskapital und allgemeine Unternehmenszwecke verwendet. CEO Marc Edwards erklärt, dass diese Finanzierung helfen wird, wichtige kommerzielle Programme zu beschleunigen und die Betriebe zu skalieren, mit dem Ziel, bis Ende 2025 EBITDA-Positivität zu erreichen. Das Angebot unterliegt der Genehmigung der TSX Venture Exchange und beinhaltet mögliche Findergebühren für die Einführung von Abonnenten.
- Company aims to be EBITDA positive by end of 2025
- Raising up to $3,000,000 to strengthen working capital
- Share dilution through issuance of 30,000,000 new common shares
- Additional costs through potential finder's fees and broker warrants
WINNIPEG, Manitoba, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX- V:KNE; OTCQB:KNBIF) (the “Company” or “Kane Biotech”) announces today that it intends to undertake a non-brokered private placement offering of up to 30,000,000 common shares of the Company (each a “Share”) at a price of
The proceeds from the Offering will be used for working capital and general corporate purposes.
“We are continuing to build shareholder value as indicated in our recent press releases,” said Marc Edwards, President & CEO. “This financing will enable us to accelerate our key commercial programs, scale operations and maximize returns as we accelerate toward our goal of being EBITDA positive by the end of 2025.”
Certain persons may assist the Company by introducing potential subscribers for the Offering and, subject to compliance with applicable legislation, may be entitled to receive a finder’s fee and/or broker warrants in such amount as may be determined by the Company.
The Offering is subject to the approval of the TSX Venture Exchange.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. These securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.
About Kane Biotech
Kane Biotech Inc. is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms. Kane has a portfolio of biotechnologies, intellectual property (66 patents and patents pending as well as trade secrets and trademarks) and products developed by Kane's own biofilm research expertise and acquired from leading research institutions. DispersinB®, coactiv+™, coactiv+®, DermaKB™, DermaKB Biofilm™, and revyve™ are trademarks of Kane Biotech Inc. Kane is listed on the TSX Venture Exchange under the symbol "KNE" and on the OTCQB Venture Market under the symbol “KNBIF”.
For more information:
| Marc Edwards | Ray Dupuis | ||||
| Chief Executive Officer | Chief Financial Officer | ||||
| Kane Biotech Inc | Kane Biotech Inc | ||||
| medwards@kanebiotech.com | rdupuis@kanebiotech.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 Kane’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 Kane 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 Kane with applicable securities regulatory authorities, available at www.sedarplus.ca. Kane cautions that the foregoing list of factors that may affect future results is not exhaustive.
FAQ
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