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Kane Biotech ( (TSE:KNE) ) has provided an update.
Kane Biotech announced the first closing of its non-brokered private placement offering, raising $1,275,000 through the issuance of 12,750,000 common shares. Insiders of the company, including management and board members, participated in this round, acquiring 3,700,000 shares. The proceeds will be used for working capital and general corporate purposes. The offering is subject to final approval by the TSX Venture Exchange, and an extension has been granted to complete the offering by February 17, 2025. The company’s CEO, Marc Edwards, noted significant interest from Canada and the United States, anticipating further closings before the deadline.
More about Kane Biotech
Kane Biotech Inc. is a biotechnology company focused on the research, development, and commercialization of technologies and products designed to prevent and remove microbial biofilms. With a portfolio of biotechnologies and intellectual properties, Kane offers products such as DispersinB, coactiv+, DermaKB, and revyve, leveraging its expertise in biofilm research.
YTD Price Performance: -9.09%
Average Trading Volume: 93,717
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$13.75M
For an in-depth examination of KNE stock, go to TipRanks’ Stock Analysis page.
