Kane Biotech Announces New Funding Granted from CanExport Program

WINNIPEG, Manitoba, Aug. 01, 2019 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE), (the “Corporation” or “Kane Biotech”), a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms, today announced that it has been approved for $50,000 CAD in funding from the Government of Canada’s CanExport SMEs program. Kane will use this funding to accelerate the growth of its bluestem line in new markets, particularly Brazil (South America), China, and the UK (Europe).

CanExport SMEs is a program delivered by the Trade Commissioner Service (TCS) of Global Affairs Canada in partnership with the National Research Council’s Industrial Research Assistance Program (NRC-IRAP). It provides direct financial assistance to small and medium-sized businesses registered in Canada in order to help them develop new export opportunities and markets.

Ray Dupuis, Chief Financial Officer of Kane Biotech, stated, “Our team plans to use these funds for targeted marketing activities in order to increase our visibility in the high-growth markets of Brazil, China, and the UK. We have a number of exciting initiatives underway to support our geographic expansion in collaboration with local market leaders, and we’re grateful for programs such as CanExport for their contribution towards achieving our long-term goals.”

About Kane Biotech

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 (56 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(TM), DispersinB(R), Aledex(R), bluestem(TM), AloSera(TM), coactiv+(TM) and Kane(R) are trademarks of Kane Biotech Inc. The Corporation is listed on the TSX Venture Exchange under the symbol "KNE".

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

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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 the Company’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 the Company 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 the Company with applicable securities regulatory authorities, available at www.sedar.com. The Company cautions that the foregoing list of factors that may affect future results is not exhaustive.