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WINNIPEG, Manitoba, March 3, 2023 (GLOBE NEWSWIRE) — Kane Biotech Inc. ((TSX-V:KNE, OTCQB:KNBIF) (the “Company” or “Kane Biotech”) announces that, as previously announced by the Company in its press release dated March 1, 2023, pursuant to the formal amendment agreement (the “Amendment Agreement”) with Pivot Financial I Limited Partnership (“Pivot ”) dated March 2, 2023 amending the terms of the Company’s Amended and Restated Credit Agreement between Pivot and the Company dated August 31, 2021, as amended (the “Credit Facility”), the interest rate of the Credit Facility increased from 14% to 15% per year. The Company previously announced the Amendment Agreement on March 2, 2023 and March 1, 2023 respectively.

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 Company has a portfolio of biotechnology, intellectual property (80 patents and patents pending, trade secrets and trademarks) and products developed through the Company’s proprietary biofilm research expertise and acquired from leading research institutions. StrixNB™, DispersinB®, Aledex™, bluestem™, bluestem®, silkstem™, goldstem™, coactiv+™, coactiv+®, DermaKB™ and DermaKB Biofilm™ are trademarks of Kane Biotech Inc. The company is listed on the TSX Venture Exchange at the symbol “KNE” and on the OTCQB Venture Market under the symbol “KNBIF”.