Kane Biotech Completes Second and Final Closing of Private Placement Offering
WINNIPEG, Manitoba, February 19, 2025 – Kane Biotech Inc. (TSX-V: KNE OTCQB: KNBIF) (the “Company” or “Kane” or “Kane Biotech”) is pleased to announce that it has successfully completed the second and final closing of its previously announced non-brokered private placement offering (the “Offering”).
Details of the Offering
During the second and final closing of the Offering, Kane issued a total of 4,235,000 common shares of the Company (“Shares”) at a price of $0.10 per Share. The gross proceeds of the Offering amounted to $423,500.
Impact on Kane Biotech
The successful completion of the Offering will provide Kane with additional working capital to fund its ongoing research and development activities. The Company will use the net proceeds of the Offering for general corporate purposes, including the continued development of its innovative biotechnology products.
Impact on the World
Kane Biotech’s continued research and development in the field of biotechnology could lead to significant advancements in various industries. The Company’s focus on developing innovative solutions for the prevention and treatment of infections could have a positive impact on global health, particularly in areas where access to modern healthcare is limited. Additionally, the Company’s work in the field of industrial biotechnology could lead to more sustainable and efficient manufacturing processes, reducing the environmental impact of various industries.
Conclusion
Kane Biotech’s successful completion of the Offering marks an important milestone in the Company’s growth and development. With the additional working capital, Kane is well-positioned to continue its research and development activities in the field of biotechnology, with the potential to make significant advancements in global health and sustainability.
- Kane Biotech completes second and final closing of non-brokered private placement offering
- Issued 4,235,000 Shares at $0.10 per Share for gross proceeds of $423,500
- Funds will be used for ongoing research and development activities
- Potential positive impact on global health and sustainability
