Kane Biotech Announces First Closing of Private Placement Offering and Extension of Private Placement Offering
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) has completed the first closing of its non-brokered private placement offering, issuing 12,750,000 shares at $0.10 per share, raising gross proceeds of $1,275,000. Insiders, including management and board members, acquired 3,700,000 shares ($370,000) of the offering.
The company paid finder's fees consisting of $32,100 cash and 321,000 broker warrants, exercisable at $0.15 per share for 18 months. The TSX Venture Exchange has extended the offering completion deadline to February 17, 2025. The proceeds will be used for working capital and general corporate purposes. All securities issued have a four-month and one-day hold period in Canada.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) ha completato la prima chiusura della sua offerta di collocamento privato non intermediato, emettendo 12.750.000 azioni a $0,10 per azione, raccogliendo un incasso lordo di $1.275.000. I membri interni, inclusi i dirigenti e i membri del consiglio, hanno acquisito 3.700.000 azioni ($370.000) dell'offerta.
L'azienda ha pagato commissioni di intermediazione per un totale di $32.100 in contante e 321.000 warrant per broker, esercitabili a $0,15 per azione per 18 mesi. La Borsa di Toronto Venture ha esteso la scadenza per il completamento dell'offerta al 17 febbraio 2025. I proventi saranno utilizzati per capitale circolante e scopi aziendali generali. Tutti i titoli emessi hanno un periodo di blocco di quattro mesi e un giorno in Canada.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) ha completado el primer cierre de su oferta privada no mediada, emitiendo 12.750.000 acciones a $0,10 por acción, recaudando un ingreso bruto de $1.275.000. Los miembros internos, incluidos la dirección y los miembros de la junta, adquirieron 3.700.000 acciones ($370.000) de la oferta.
La empresa pagó comisiones de intermediación consistentes en $32.100 en efectivo y 321.000 warrants de corretaje, ejercitables a $0,15 por acción durante 18 meses. La Bolsa de Valores de Toronto Venture ha extendido la fecha límite de finalización de la oferta al 17 de febrero de 2025. Los ingresos se utilizarán para capital de trabajo y fines corporativos generales. Todos los valores emitidos tienen un período de restricción de cuatro meses y un día en Canadá.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF)는 중개인 없이 진행된 사모 배정의 첫 번째 마감을 완료했으며, 12,750,000주를 주당 $0.10에 발행하여 총 $1,275,000의 수익을 올렸습니다. 경영진과 이사회 구성원 등 내부자는 이번 배정에서 3,700,000주($370,000)를 인수했습니다.
회사는 $32,100의 현금 및 321,000개의 중개인 워런트를 포함한 중개 수수료를 지급하였으며, 이는 18개월 동안 주당 $0.15에 행사할 수 있습니다. TSX 벤처 거래소는 이번 제안의 완료 기한을 2025년 2월 17일로 연장했습니다. 수익은 운영 자본 및 일반 기업 목적에 사용될 것입니다. 발행된 모든 증권은 캐나다에서 4개월 1일의 보유 기간이 있습니다.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) a réalisé la première clôture de son offre de placement privé non intermédié, en émettant 12.750.000 actions à 0,10 $ par action, levant des recettes brutes de 1.275.000 $. Les initiés, y compris la direction et les membres du conseil d'administration, ont acquis 3.700.000 actions (370.000 $) de l'offre.
La société a payé des frais de courtage s'élevant à 32.100 $ en espèces et 321.000 bons de souscription d'intermédiaire, exerçables à 0,15 $ par action pendant 18 mois. La Bourse de Toronto Venture a prolongé la date limite de finalisation de l'offre jusqu'au 17 février 2025. Les recettes seront utilisées pour le fonds de roulement et les besoins corporatifs généraux. Tous les titres émis sont soumis à une période de blocage de quatre mois et un jour au Canada.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) hat den ersten Abschluss ihrer nicht vermittelten Privatplatzierung abgeschlossen und 12.750.000 Aktien zu einem Preis von $0,10 pro Aktie ausgegeben, wodurch ein Bruttoerlös von $1.275.000 erzielt wurde. Insider, darunter das Management und Mitglieder des Vorstands, haben 3.700.000 Aktien ($370.000) des Angebots erworben.
Das Unternehmen zahlte Vermittlungsgebühren in Höhe von $32.100 in bar und 321.000 Broker-Warrants, die für 18 Monate zu $0,15 pro Aktie ausgeübt werden können. Die TSX Venture Exchange hat den Abschlusszeitraum für das Angebot bis zum 17. Februar 2025 verlängert. Die Einnahmen werden für Betriebskapital und allgemeine Unternehmenszwecke verwendet. Alle ausgegebenen Wertpapiere unterliegen einer Haltefrist von vier Monaten und einem Tag in Kanada.
- Raised $1,275,000 in gross proceeds through share offering
- Strong insider participation with $370,000 investment
- Management reports strong interest from both Canadian and US investors
- Dilution of existing shareholders through new share issuance
- Additional share issuance expected before February 17, 2025
- Shares issued at relatively low price of $0.10
Not for distribution to U.S. news wire services or dissemination in the United States
WINNIPEG, Manitoba, Jan. 20, 2025 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE OTCQB:KNBIF) (the “Company”, “Kane” or “Kane Biotech”) announces that today it has completed the first closing of its previously announced non-brokered private placement offering (the “Offering”) of common shares of the Company (“Shares”). At the first closing Kane issued 12,750,000 Shares at a price of
Insiders, including management and board members, acquired an aggregate of 3,700,000 Shares (
The net proceeds of the Offering will be used for working capital and general corporate purposes.
All securities issued in connection with the Offering are subject to a hold period of four-months and one day in Canada.
In connection with the Offering, the Company paid compensation to eligible finders consisting of a cash commission of
The closing of the Offering remains subject to the final approval of the TSX Venture Exchange.
“We have seen a lot of interest in Kane in both Canada and the Unites States,” said Marc Edwards, President & CEO. “With people returning from holidays, we anticipate completing the raise shortly.”
The Company also announced today that the TSXV has granted an extension to the deadline for the completion of the Offering to February 17, 2025. The Company anticipates having an additional closing of the Offering prior to February 17, 2025.
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 (65 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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