WINNIPEG, Manitoba, July 24, 2018 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE) (OTCQB:KNBIF), (the “Corporation” or “Kane Biotech”) today announced it has, subject to regulatory approval, agreed to retain Venture Liquidity Providers Inc. (“VLP”) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the Corporation.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd. (“W.D. Latimer”), in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, Kane Biotech has agreed to pay VLP $5,000 per month for a period of 12 months. The agreement to be entered into between the parties may be terminated at any time after three months from the date of the agreement by the Corporation or VLP. The Corporation and VLP act at arm's length and VLP has no present interest, directly or indirectly, in the Corporation or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only.
VLP is a specialized, privately held consulting firm based in Toronto providing a variety of services focused on TSX-V listed issuers.
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.
The Corporation has a portfolio of biotechnologies, intellectual property (75 patents and patents pending, trade secrets and trademarks) and products developed by the Corporation’s own biofilm research expertise and acquired from leading research institutions. StrixNB™, DispersinB®, Aledex®, bluestem™, AloSera™, coactiv+™ and Kane® are trademarks of Kane Biotech Inc. The Corporation is listed on the TSX Venture Exchange under the symbol "KNE" and on the OTCQB Venture Market under the symbol “KNBIF”.
For more information, please visit www.kanebiotech.com or contact:
President & CEO
Kane Biotech Inc.
+1 (204) 477-7592 firstname.lastname@example.org
Vice President - Investor Relations
+1 (646) 653-7035 email@example.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 laws. These statements reflect management’s current beliefs and are based on information currently available to management. Forward-looking statements in this press release include statements relating to the services to be provided by VLP to the Corporation and the terms and conditions of the written agreement to be entered into between the parties. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including the risk that the services to be provided by VLP will differ from those set out in the agreement to be entered into between the parties and the risk that the parties may not enter into a written agreement. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive.
These risks and uncertainties should be considered carefully undue reliance should not be placed on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot provide assurance that actual results will be consistent with these forward-looking statements. The Corporation undertakes no obligation to update or revise any forward-looking statement, except as required by applicable securities laws.