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Kane Biotech Achieves DTC Eligibility in the United States
WINNIPEG, Manitoba, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE, OTCQB:KNBIF), (the “Corporation” or “Kane Biotech”) is pleased to announce that the Corporation has secured eligibility by The Depository Trust Company ("DTC") for its shares on the OTCQB Venture Market. DTC is a New York based entity which performs the functions of a Central Securities Depository as part of the US National Market System and is a subsidiary of the Depository Trust & Clearing Corp. that manages the electronic clearing and settlement of share transactions for publicly traded companies in the United States. DTC eligibility will simplify the process of trading and is expected to enhance liquidity of the Corporation’s common shares on the OTC marketplace where Kane Biotech trades under the symbol "KNBIF".
Mark Ahrens-Townsend, President & CEO of Kane Biotech, commented, “We are very pleased to have obtained DTC eligibility to streamline the trading of our common stock in the United States. The Corporation’s stock can now be efficiently cleared and settled electronically which will accelerate the settlement of trades and the exchange of stock and cash for our shareholders in the United States."
Investors in the United States can find current financial disclosure and the full depth of book with Real-Time Level 2 Quotes for Kane Biotech at www.otcmarkets.com.
In addition to the OTC, shares of Kane Biotech continue to trade on the TSX Venture Exchange under the symbol "KNE".
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 Corporation has a portfolio of biotechnologies, intellectual property (75 patents and patents pending, trade secrets and trademarks) and products developed by the Corporation’s own biofilm research expertise and acquired from leading research institutions. StrixNB™, DispersinB®, Aledex®, bluestem™, AloSera™, coactiv+™ and Kane® are trademarks of Kane Biotech Inc. The Corporation is listed on the TSX Venture Exchange under the symbol "KNE" and on the OTCQB Venture Market under the symbol “KNBIF”.
For more information, please visit www.kanebiotech.com or contact:
President & CEO
Kane Biotech Inc.
+1 (204) 477-7592
Vice President - Investor Relations
+1 (646) 653-7035
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 Information
This 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 Corporation’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 Corporation 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 Corporation with applicable securities regulatory authorities, available at www.sedar.com. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive.
These risks and uncertainties should be considered carefully undue reliance should not be placed on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot provide assurance that actual results will be consistent with these forward-looking statements. The Corporation undertakes no obligation to update or revise any forward-looking statement.