Kane Biotech Announces Further Extension of Warrants

WINNIPEG, Manitoba, May 14, 2020 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE), (the “Corporation” or “Kane Biotech”), today announced that it has further amended the terms of its 34,504,997 common share purchase warrants (the “Warrants”) issued on July 17, 2017 (the “Initial Closing”) and August 17, 2017 (the “Final Closing”) pursuant to a private placement of units, by further extending the expiry thereof from July 17, 2020 to January 17, 2022 for the 33,404,997 Warrants issued pursuant to the Initial Closing (the “Initial Closing Warrants”) and from August 17, 2020 to February 17, 2022 for the 1,100,000 Warrants issued pursuant to the Final Closing (the “Final Closing Warrants”). The Corporation previously extended the expiry of the Initial Closing Warrants and the Final Closing Warrants on November 12, 2018 for an additional 18 month term. The Corporation will send a notice to all holders of the Initial Closing Warrants and Final Closing notifying them of the extension to the Warrants.

The extension of the expiry of the Warrants remains subject to the final approval of the TSX Venture Exchange.

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 (57 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, Aledex, bluestem^TM, silkstem^TM, coactiv+^TM and Kane 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:

Marc Edwards
Chief Executive Officer
Kane Biotech Inc.
[phone]	[e-mail]
Ray Dupuis
Chief Financial Officer
Kane Biotech Inc.
[phone]	[e-mail]
Stephen Kilmer
Investor Relations
[phone]	[e-mail]

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.