Kane Biotech Engages Independent Trading Group, Inc. for Market-Making Services
January 27 2020 - 8:00AM
Kane Biotech Inc. (TSX-V:KNE) (the “Company” 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, subject to
regulatory approval, it has retained Independent Trading Group,
Inc. (“ITG”) to provide market-making services to the Company (the
”Engagement”).
ITG will trade shares of Kane Biotech on the TSX
Venture Exchange (“TSX-V”) in compliance with the policies and
guidelines of the TSX-V and other applicable legislation with the
objective of maintaining a reasonable market and improving the
liquidity of the common shares of the Company. The capital used for
the market-making activities will be provided by ITG.
Under the terms of the Engagement, ITG will
receive $5,000 per month, payable by the Company monthly from its
working capital. The Engagement is effective as of January 1, 2020
and has an initial term of three months. Thereafter, the Engagement
will automatically renew for successive one (1) month terms until
terminated by either party upon thirty (30) days’ prior written
notice. There are no performance factors contained under the
Engagement nor will ITG receive shares or options as compensation.
ITG and Kane Biotech are unrelated and unaffiliated entities, and
ITG has no present interest, directly or indirectly, in the Company
or its securities.
ITG is an independent, privately held
broker-dealer based in Toronto, Ontario that provides a wide range
of financial and investment services and is registered with the
TSX, TSX-V and the Investment Industry Regulatory Organization of
Canada.
In connection with the Engagement, the Company
has terminated its market making services agreement with Venture
Liquidity Providers Inc. as of November 30, 2019.
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
Company has a portfolio of biotechnologies, intellectual property
(56 patents and patents pending, trade secrets and trademarks) and
products developed by the Company’s own biofilm research expertise
and acquired from leading research institutions. StrixNBTM,
DispersinB®, Aledex®, bluestemTM, AloSeraTM, coactiv+TM and Kane®
are trademarks of Kane Biotech Inc. The Company 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. |
|
+1 (514)
910-6991 |
medwards@kanebiotech.com |
|
|
Ray
Dupuis |
|
Chief
Financial Officer |
|
Kane
Biotech Inc. |
|
+1 (204)
298-2200 |
rdupuis@kanebiotech.com |
|
|
Stephen
Kilmer |
|
Investor
Relations |
|
+1 (646)
274-3580 |
skilmer@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
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.
Kane Biotech (TSXV:KNE)
Historical Stock Chart
From Apr 2024 to May 2024
Kane Biotech (TSXV:KNE)
Historical Stock Chart
From May 2023 to May 2024