Kane Biotech Announces Exclusive Distribution Agreement with Eetoys Pet Products Limited
July 18 2019 - 6:55AM
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, is pleased to announce that
they have signed an exclusive distribution agreement with a major
Chinese distributor, Eetoys Pet Products Limited (“Eetoys”). Eetoys
will be distributing Kane’s Oral Care products (bluestem(TM) and
StrixNB(R)) to over 2,000 retailers across major markets in China.
Kane’s representative in the region, Richard Walker, who
is Managing Director of the Beijing-based Canasia
Enterprises Ltd., introduced Kane to Eetoys in early 2018 and
has been integral in the ongoing cooperation between the two
companies in achieving a common goal in the China market. Given
Richard’s 30 years of business experience in China, he offers
a wealth of knowledge and expertise during
the partnership’s formative stages and beyond.
“We are extremely pleased with our growing relationship with
Richard and are very grateful for the introduction to such an
established brand name in China. This distribution partnership will
increase our presence and visibility in a lucrative, fast-growing
market and creates a strong foundation for continual geographical
expansion,” stated Marc Edwards, Chief Executive Officer of Kane
Biotech.
In order to maintain their exclusivity, Eetoys must purchase at
least $600,000 of Kane Biotech products over the course of three
years. All product manufacturing will remain in North America, with
the majority of it taking place in Canada, and all orders will be
paid in advance of shipping. Kane has already received a
small pre-paid order from Eetoys and recently fulfilled the order
and shipped the product overseas. Once the product arrives in China
and clears customs, Kane will continue to fulfill larger orders
from Eetoys.
In addition, in August 2019, Eetoys will be showcasing Kane’s
products at Pet Fair Asia 2019, one of the largest pet shows in
China.
“Kane Biotech has an established portfolio of pet products that
will complement our existing offerings well. We look forward to
working with the Canada-based team to offer an ever-growing array
of products to our large customer base,” said James Chen, Chief
Executive Officer of Eetoys.
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(R),
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".
About Eetoys
Eetoys is a vertical company that provides smart solutions for
pets and owners. Founded by a team of animal behaviorists,
veterinarians, and nutritionists, Eetoys designs and produces pet
toys that satisfy pet’s natural desires. Eetoys has become
the leading pet toy brand in China over the past 10 years, and its
distribution channel covers over 21 provinces, 3 municipalities, 3
autonomous regions within China, achieving continuous exposure in
more than 2,000 pet specialty stores. Eetoys has also gained
strong foothold in the ever-growing China e-commerce with
designated online stores in major platforms, such as Tmall, JD, and
Alibaba, plus over 500 online distributors. Driven by strong
and widespread distribution channels, Eetoys also offers products
from major pet brands that provide complete solutions to the pet
community.
For more information, please visit
www.kanebiotech.com, or contact:
Marc EdwardsChief Executive OfficerKane Biotech Inc.+1 (514)
910-6991medwards@kanebiotech.com
Joe Green U.S. Investor Relations Edison Inc. +1 (646)
653-7030jgreen@edisongroup.com
Laine YonkerU.S. Investor RelationsEdison Inc. +1 (646) 653
7035lyonker@edisongroup.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
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.
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