Kane Biotech Announces Closing of Private Placement Offering and Loan with Insiders of the Company

Group 1 - Kane Biotech Inc. has completed a non-brokered private placement offering, issuing 12,000,000 common shares at a price of $0.10 per share, resulting in gross proceeds of$1,200,000 [2] - The net proceeds from the offering will be utilized for working capital and general corporate purposes [2] - The company has also secured an unsecured loan of $1,000,000 from an insider, which is interest-free and repayable on demand [3] Group 2 - The transactions are classified as "related party transactions" under Multilateral Instrument 61-101, with the company exempt from formal valuation and minority approval requirements [4] - Kane Biotech is focused on developing innovative wound care treatments that target biofilms, which contribute to antibiotic resistance and complicate wound healing [6]