- Kane (KNE) is announcing that its C$1M private placement has been fully subscribed
- It will use the funding primarily for product development and general working capital
- CEO Marc Edwards has agreed to invest $310,000 in the offering
- The company anticipates the offering to close on May 16, 2022
- Kane Biotech is a biotechnology company focused on preventing and removing microbial biofilms
- Kane Biotech (KNE) is unchanged trading at $0.09 per share
Kane (KNE) is announcing that its C$1M private placement has been fully subscribed.
It offered 10M common shares priced at $0.10.
CEO Marc Edwards has agreed to purchase 3.1M shares for $310,000.
The company will use the funding primarily for product development and general working capital.
It anticipates the offering to close on May 16, 2022.
The capital raise follows compelling results from Kane’s preclinical trials of its DispersinB
wound gel with clinical studies scheduled to start later this year.
In its animal health division, STEM Animal Health was also recently awarded the Veterinary Oral Health Council Seal of Acceptance for its pet oral care water additive for tartar control, which triggered milestone payments and minimum royalties from Kane’s licensing partners.
“I am excited to personally participate in this private placement as I saw it as an opportunity to grow my position in Kane Biotech,” stated Edwards. “We are consistently achieving significant milestones and expect this trend to continue going forward.”
Kane Biotech is a biotechnology company focused on preventing and removing microbial biofilms.
Kane Biotech (KNE) is unchanged trading at $0.09 per share as of 12:14 pm EST.
