Kane Biotech Signs First U.S. Distribution Agreement with King Wholesale Inc.
WINNIPEG, Manitoba, Feb. 25, 2020 (GLOBE NEWSWIRE) — 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 signed an agreement with King Wholesale Inc. (“King”), a California-based distributor of wholesale pet supplies.
Under the terms of the agreement, King will distribute Kane Biotech’s bluestem™ oral care and silkstem™ anti-itch shampoo products to its customers across the U.S.“Having King as our first distributor in the U.S. will allow us to greatly extend our distribution in this underdeveloped market,” said Michel Stébenne, VP Animal Health of Kane Biotech. “We are proud to give more U.S. pet parents access to our bluestem oral care products, and soon, our anti-itch shampoo line and supplements. King’s online platform will provide us with the opportunity to educate more retailers on the importance of having a healthy oral care routine for their pets and about the solutions that will best fit their lifestyle regardless of their pet’s personality.”“We are proud to offer Kane Biotech’s animal health care products to our customers across the U.S.,” said Heather Smith, CEO of King. “Dental disease is a concern in the majority of dogs and cats over the age of three years, so we are pleased to offer our customers with new, innovative products to promote their pets’ dental health. We are also looking forward to working with Kane to provide our customers with additional products that support other aspects of their pets’ health.”Kane Biotech is pleased to kick-off its agreement with King at the Global Pet Expo taking place February 26-28, 2020 in Orlando, Florida. Kane Biotech will be located in booth 4151 and will be accepting orders from all U.S. retailers.
About King Wholesale Inc.King Wholesale, a family operated business established in 1987, strives to provide education and products that support the proper care and maintenance of all animals. King Wholesale Pet Supplies’ customers include retail stores, grooming shops, animal hospitals, kennels, trainers, humane societies, as well as other pet care professionals. King has more than 20 sales representatives, including an external sales team located on the U.S. West Coast. King ships to customers anywhere in the U.S. who order using King’s extensive online product catalogue.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 (56 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™, silkstem™, coactiv+™ and Kane® 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: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 InformationThis 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.