Huge interest in KaneFinancing increased to 20M from 12M shares. This will be enough money to pay for trials and even kick start some other programs. Great news!
WINNIPEG,MANITOBA--(Marketwire - April 6, 2011) - Kane Biotech Inc. (TSX VENTURE:KNE), abiotechnology company engaged in the development and commercialization ofproducts that prevent and remove microbial biofilms (the "Company"),today announces that it has increased the current private placement offering(the "Offering"), first reported on March 30, 2011, from a maximum of12,500,000 units ("Units") to 20,000,000 Units at a price of
.12per Unit, for total gross proceeds of up to $2,400,000. As previouslyannounced, each Unit will be comprised of one common share of the Company (a"Share") and one Share purchase warrant (a "Warrant"). EachWarrant will expire 18 months from the date the Warrant is issued and willentitle the holder to purchase one Share at a price of
.17 per Share.
TB