Kane Biotech Announces $250,000 Insider Loan
Unsecured, non-interest-bearing loan provides additional working capital support
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WINNIPEG, Manitoba, Oct. 16, 2026 (GLOBE NEWSWIRE) — Kane Biotech Inc. (TSX-V:KNE) (the “Company”, “Kane” or “Kane Biotech”), a biotechnology company commercializing and developing technologies and products that address microbial biofilms, today announced that it has accepted an unsecured loan in the principal amount of $250,000 (the “Loan”) from Philip Renaud, Chair of the Company’s Board of Directors and an approved control person of the Company.
The Loan does not bear interest and is repayable on demand. No bonus was paid or is payable by the Company in connection with the Loan. The Company intends to use the proceeds for general working capital and corporate purposes and intends to repay the Loan from future capital raises or general revenue.
The Loan constitutes a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and TSX Venture Exchange Policy 5.9. The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101 because the fair market value of the Loan does not exceed 25% of the Company’s market capitalization.
“This unsecured loan provides Kane Biotech with additional working capital as we continue to advance our corporate and commercial priorities,” said Philip Renaud, Chair of Kane Biotech’s Board of Directors. “I remain committed to supporting the Company as management pursues its strategy and longer-term financing alternatives”.
About Kane Biotech Inc. (TSX-V:KNE)
Kane Biotech is commercializing and developing novel wound care treatments that disrupt biofilms and transform healing outcomes. Biofilms are one of the main contributors to antibiotic resistance in wounds, resulting in serious clinical outcomes and significant cost. revyve addresses both biofilms and wound bacteria. revyve Antimicrobial Wound Gel, revyve Antimicrobial Wound Gel Spray and revyve Antimicrobial Skin and Wound Cleanser are all U.S. FDA 510(k) cleared. revyve Antimicrobial Wound Gel and revyve Antimicrobial Wound Gel Spray are also Health Canada approved. To learn more, visit revyvegel.com or revyvegel.ca.
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Website: kanebiotech.com
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Presentation: Disrupting Biofilms to Save Limbs and Transform Wound Care
For more information:
Dr. Robert Huizinga Ray Dupuis
Interim CEO Chief Financial Officer
Kane Biotech Inc. Kane Biotech Inc.
rhuizinga@kanebiotech.com rdupuis@kanebiotech.com
(780) 970-1100 (204) 298-2200
Neither the 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, including statements regarding the expected use of the Advance, the Company’s commercialization and development activities, the pursuit of financing alternatives, and the creation of long-term shareholder value. 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.sedarplus.ca. The Company cautions that the foregoing list of factors that may affect future results is not exhaustive. The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws.
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