Kane Biotech and Nestlé Reach Settlement
June 20 2019 - 9:23AM
Kane Biotech Inc. (TSX-V:KNE), (the “Corporation” or “Kane
Biotech”), a biotechnology company engaged in the research,
development and commercialization of technologies and products that
prevent and remove microbial biofilms, today announced that it has
reached a settlement agreement with Nestec, Ltd., a/k/a Nestec,
S.A. (“Nestec”), and Nestlé Purina Petcare Global Resources, Inc.
(“Nestlé Purina”), (collectively “Nestlé”), to resolve the lawsuit
filed February 26, 2018.
The specific details of the settlement are
confidential. Pursuant to applicable securities laws, the
settlement is material to Kane Biotech.
About Kane Biotech
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 (58 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(TM), DispersinB(R), Aledex(R), bluestem(TM), AloSera(TM),
coactiv+(TM) and Kane(R) are trademarks of Kane Biotech Inc. The
Corporation is listed on the TSX Venture Exchange under the symbol
"KNE".
For more information, please
visit www.kanebiotech.com, or
contact:
Marc EdwardsChief Executive OfficerKane Biotech Inc.+1 (514)
910-6991 |
medwards@kanebiotech.com |
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|
Ray DupuisChief Financial
OfficerKane Biotech Inc.+1 (204) 298-2200 |
rdupuis@kanebiotech.com |
|
|
Joe Green US. Investor
Relations Edison Inc.+1 (646) 653-7030 |
jgreen@edisongroup.com |
|
|
Laine YonkerUS. Investor
RelationsEdison Inc. +1 (646) 653 7035 |
lyonker@edisongroup.com |
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 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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