WINNIPEG, Manitoba, March 25, 2020 (GLOBE NEWSWIRE) — Further to its press release of March 20, 2020, Kane Biotech Inc. (TSX-V:KNE) (“Kane Biotech” or the “Company) announced that, in response to the evolving dynamics related to the COVID-19 pandemic, it has decided to delay the release of its fourth quarter and full year 2019 financial results, originally scheduled for March 26, 2020, until after market close on Thursday, April 2, 2020.
In deciding to postpone its annual filings by one week, Kane Biotech is relying upon the Canadian Securities Administrators’ blanket relief, which, in light of recent COVID-19 developments and their impact on market participants, provides a 45-day extension for periodic filings normally required to be made by issuers, investment funds, registrants, certain regulated entities and designated rating organizations on or before June 1, 2020.Kane Biotech management will host a conference call at 4:30 p.m. ET on April 2, 2020 to review the financial results and discuss business developments in the period.The call will also be broadcast live and archived on the Company’s website at www.kanebiotech.com under “News/Events” in the Investors section.
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 (57 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, silkstemTM, 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: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 InformationThis 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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