Dr. Robert Huizinga reports

KANE BIOTECH ANNOUNCES THE OVERSUBSCRIPTION AND CLOSING OF PRIVATE PLACEMENT OFFERING

Kane Biotech Inc. has increased the size of its previously announced non-brokered private placement offering of units of the company from up to $1-million to $1.16-million and has subsequently completed such offering. The increase in the size of the offering was driven primarily by outside investor demand.

At the closing of the offering, Kane issued 23.2 million units at a price of five cents per unit for gross proceeds of $1.16-million. Each unit comprises one common share of the company and one share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share of the company for a period of 18 months at an exercise price of six cents per share.

After a period of four months from the closing date of the offering, in the event that the shares traded on the TSX Venture Exchange have a closing price at or exceeding nine cents per share for five consecutive trading days, the company reserves the right to call the warrants, at their exercise price of six cents per warrant. If the company wishes to call the warrants, the company must provide written notice to the holders of the warrants that it is calling the warrants. Investors will have 30 days from the date of such notice to exercise the warrants and, in the event that any warrants are not exercised, such warrants shall be cancelled.

The net proceeds of the offering will be used for working capital and general corporate purposes.

All securities issued in connection with the offering are subject to a hold period of four months and one day from the date of issuance.

In connection with the offering, the company paid compensation to eligible finders consisting of a cash commission of $9,600 and 192,000 common share broker warrants. Each broker warrant entitles the holder thereof to purchase one share of the company for a period of 18 months at an exercise price of six cents per share.

The closing of the offering remains subject to the final approval of the TSX-V.

The board chair, Philip Renaud, participated in the offering. The insider subscription is deemed to be a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is exempt from the formal valuation and minority approval requirements for related party transactions pursuant to Subsection 5.5(b) and Subsection 5.7(1)(b) of MI 61-101, respectively.

"I have strong confidence in the strategy senior management is executing to build dedicated sales teams across targeted channels and geographic regions in the United States and Canada to champion revyve, our FDA-cleared and Health Canada-approved biofilm-disrupting product line. This approach directly targets the root cause of chronic infections and delivers transformative outcomes that meaningfully improve patients' lives," said Philip Renaud, board chair.

About Kane Biotech Inc.

Kane Biotech is commercializing and developing novel wound care treatments that disrupt biofilms and transform healing outcomes. Biofilms are one of the main contributors to antibiotic resistance in wounds, resulting in serious clinical outcomes and significant cost. revyve addresses both biofilms and wound bacteria. revyve Antimicrobial Wound Gel, revyve Antimicrobial Wound Gel Spray and revyve Antimicrobial Skin and Wound Cleanser are all U.S. FDA 510(k) cleared. revyve Antimicrobial Wound Gel and revyve Antimicrobial Wound Gel Spray are also Health Canada approved.

We seek Safe Harbor.