Kane Biotech Signs Distribution Agreement and Secures First Order from China
February 19 2019 - 6:50AM
Kane Biotech Inc. (TSX-V:KNE), (the “Corporation” or “Kane
Biotech”), is pleased to announce that it has signed a
non-exclusive Distribution Agreement with a major Chinese
distributor and secured its first order valued at $25K USD. The
order includes Kane's StrixNB™ Water Additive for the Chinese
Veterinary market as well as its bluestem™ Water Additive and Oral
Spray for the Chinese pet specialty market.
Grant Humphrey, Vice President Sales and Business Development of
Kane Biotech, stated, “The Chinese market holds incredible
potential with regards to new business for Kane. China’s middle
class has grown significantly and the market for pet specialty
products has grown right along with it. There are now over 73
million families that own a pet in China versus 85 million families
in the US. By 2020 the market in China will be worth 31.4B RMB or
$4.62B USD. We’re very pleased to have our foot in this door.”
Marc Edwards, Chief Executive Officer of Kane Biotech, added,
“This order is great news for Kane Biotech and we’re excited about
the opportunity this brings for expanding our sales and
distribution into a significant new market. This nicely builds upon
the momentum of our recent successes of growing sales in both
Canada and the United States.”
The terms of the Distribution Agreement stipulate that orders
are to be paid up front. At the time of this release, funds had not
yet been received.
About Kane BiotechKane 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:Marc EdwardsChief Executive OfficerKane Biotech
Inc.
+1
(514)
910-6991
medwards@kanebiotech.com
Grant HumphreyVice President, Sales and Business DevelopmentKane
Biotech Inc.+1 (204)
914-5089
ghumphrey@kanebiotech.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
InformationThis 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.
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 Company cannot provide assurance that
actual results will be consistent with these forward-looking
statements. The Company undertakes no obligation to update or
revise any forward-looking statement.
“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."
Kane Biotech (TSXV:KNE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Kane Biotech (TSXV:KNE)
Historical Stock Chart
From Apr 2023 to Apr 2024