By Sheri Kasprzak
New York, April 20 - Kane Biotech Inc. said it intends to raise up to C$1.2 million in a private placement.
The non-brokered deal includes up to 2 million shares.
The proceeds will be used for research and development and for working capital.
Kane, based in Winnipeg, Man., is a biotechnology company focused on the development of products to prevent and disperse bacterial biofilms. The products are used to prevent problems like urinary tract infections and tooth decay.
| Issuer: | Kane Biotech Inc.
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| Issue: | Stock
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| Amount: | C$1.2 million (maximum)
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| Shares: | 2 million (maximum)
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| Price: | C$0.60
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| Warrants: | No
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| Placement agent: | Non-brokered
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| Pricing date: | April 20
|
| Stock symbol: | TSX Venture: KNE
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| Stock price: | C$0.64 at close April 19
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