Kane Biotech Announces Grant of Stock Options
WINNIPEG, Manitoba, March 02, 2020 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE) (the “Company” or “Kane Biotech”) today announces that it granted an aggregate of 3,650,000 stock options (the "Options") to certain directors, officers, employees and consultants of the Company in accordance with the Company's stock option plan.
Each Option is exercisable into one common share of the Company (“Shares”) at a price of $0.18 per share for a period of five years from the date of grant. The Options will vest over twenty-four months, with one third vesting immediately, and one third vesting 12 months from the date of the grant and one third vesting 24 months from the date of the grant.
About Kane Biotech Inc.
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. StrixNB™, DispersinB®, bluestem™, AloSera™, coactive+™ 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 , or contact:
| Marc Edwards Chief Executive Officer Kane Biotech Inc. +1 (514) 910-6991 Ray Dupuis Chief Financial Officer Kane Biotech Inc. +1 (204) 298-2200 Stephen Kilmer Investor Relations Kane Biotech Inc. +1 (646) 274-3580 |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
