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Not for distribution to U.S. news wire services or dissemination in the United States

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WINNIPEG, Manitoba, June 26, 2025 (GLOBE NEWSWIRE) — Kane Biotech Inc. (TSX-V:KNE) (the “Company” or “Kane Biotech”) announces that today it has completed its previously announced conversion (the “Transaction”) of an unsecured demand loan of $1 million from an insider of the Company into a $1 million principal amount 3% unsecured convertible debenture that is due on June 26, 2030 (the “Debenture”).

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For further details on the terms of the Debenture, see the press release issued by the Company on June 18, 2025.

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The closing of the Transaction remains subject to the final approval of the TSX Venture Exchange.

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The Company also announces that at its Annual and Special Meeting of Shareholders held on June 25, 2025, all Resolutions were voted 98% or higher in favour including the election of three new board directors, Ms. Anne Greven, Mr. Shameze Rampertab and Dr. David Kideckel, and three existing directors, Mr. Philip Renaud, Dr. John Coleman and Dr. Robert Huizinga.

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About Kane Biotech

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Kane Biotech is developing novel wound care treatments that disrupt biofilms and transform healing outcomes. Biofilms are one of the main contributors to antibiotic resistance in wounds which results in serious clinical outcomes and significant cost. revyve™ addresses both biofilms and wound bacteria.

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For more information:

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Neither the 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.

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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+.ca. The Company cautions that the foregoing list of factors that may affect future results is not exhaustive.

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