STEM Animal Health Appoints New President and CEO

Rhea-AI Summary

Kane Biotech Inc. announces that Kevin Cole will be the new President and CEO of STEM Animal Health Inc., its subsidiary formed through a joint venture with Animalcare Group PLC. Cole has extensive experience in the pet care industry, previously serving as President of True Leaf Pet. His focus will be on expanding STEM's reach in the $150 billion global pet care market, intent on leveraging the company's innovative biofilm-targeting technology. Additionally, a new Board of Directors has been established to support STEM, with Kane Biotech’s CEO Marc Edwards as Chairman.

Positive

• Kevin Cole's appointment aims to strengthen leadership with over 20 years of experience in the pet care sector.
• Focus on leveraging biofilm-targeting technology aligns with significant growth potential in the pet care market, projected to reach $200 billion in five years.

Negative

• Potential lack of continuity and experience gaps due to management transition.
• Dependence on key personnel increases operational risks amid leadership changes.

WINNIPEG, Manitoba, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF) (“Kane Biotech”) today announced that Kevin Cole will assume the role of President and CEO of STEM Animal Health Inc. (“STEM”), a subsidiary created from the recently formed joint venture with UK-based international veterinary products company, Animalcare Group PLC (AIM:ANCR) (“Animalcare”).

Kevin Cole brings two decades of experience in consumer-packaged goods with a focus on developing brands and scaling businesses within the pet care industry. Prior to joining STEM, Kevin served as President of True Leaf Pet, a leading global cannabis and hemp wellness brand for pets. He has held several senior roles within the pet care industry working for MARS Petcare, the owners of well-known household brands such as IAMS, ROYAL CANIN, PEDIGREE and WHISKAS. Kevin built various successful brands, businesses and departments focused on areas of insights, sales strategy, marketing and eCommerce.

In this new role Kevin will focus on building STEM into a globally recognized name in biofilm-targeting technology with an emphasis on developing sales channels and penetrating the growing pet care sector, utilizing STEM’s expanding product lines.

“We are truly fortunate to have found Kevin to drive our newly formed business forward. We know that STEM is under strong stewardship and we look forward to seeing Kevin’s results. The global pet care category is estimated to be at $150 Billion and growing to $200 Billion in the next 5 years and it is our belief that Kevin will maximize the potential of our biofilm technology in this growing market,” said Marc Edwards, CEO of Kane Biotech.

“Over the past twenty years, there have been great advances in how we care for our companion and production animals. There are opportunities for further improvements, and STEM Animal Heath's technology will be a driver of continued improvements in the care we provide, and the well-being of animals around the world. I am very excited to be joining a great team and look forward to building the business by expanding access to STEM Animal Health's technology through its partnerships and product portfolio,” said Kevin Cole, CEO of STEM.

Additionally, a new Board of Directors has been created to support STEM management. As such five new board members were appointed.

Marc Edwards, currently President and CEO of Kane Biotech will assume the role of STEM Chairman. He will be joined by Ray Dupuis (Kane Biotech CFO), Georges Morin (Kane Biotech Board Member), Chris Brewster (Animalcare Group, CFO) and Martin Gore (Animalcare Group, Head of Commercial).

About Kane Biotech Inc.

Kane Biotech is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms. Kane Biotech has a portfolio of biotechnologies, intellectual property (52 patents and patents pending, trade secrets and trademarks) and products developed by Kane Biotech's own biofilm research expertise and acquired from leading research institutions. StrixNB™, DispersinB®, Aledex®, bluestem™, silkstem™, coactiv+™ and Kane® are trademarks of Kane Biotech Inc. Kane Biotech is listed on the TSX Venture Exchange under the symbol "KNE” and on OTCQB Markets under the symbol “KNBIF".

For more information, please visit www.kanebiotech.com, or contact:

Marc Edwards Chief Executive Officer, Kane Biotech Inc. Ray Dupuis Chief Financial Officer, Kane Biotech Inc. Graham Farrell Investor Relations	+1 (514) 910-6991 medwards@kanebiotech.com +1 (204) 298-2200 rdupuis@kanebiotech.com   +1 (416) 842-9003 graham.farrell@harboraccessllc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the 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 Biotech’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 Biotech 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 Biotech with applicable securities regulatory authorities, available at www.sedar.com. Kane Biotech cautions that the foregoing list of factors that may affect future results is not exhaustive.

FAQ

Who is the new CEO of STEM Animal Health Inc.?

Kevin Cole has been appointed as the new CEO of STEM Animal Health Inc.

What experience does Kevin Cole bring to STEM?

Kevin Cole brings two decades of experience in the consumer-packaged goods sector, particularly in pet care.

What is the focus of STEM under Kevin Cole's leadership?

STEM will focus on expanding its presence in the pet care sector, utilizing its biofilm-targeting technology.

What is the expected market growth for the pet care industry?

The global pet care market is expected to grow from $150 billion to $200 billion in the next five years.

Who are the new members of the Board of Directors for STEM?

The new Board includes Marc Edwards, Ray Dupuis, Georges Morin, Chris Brewster, and Martin Gore.