Kane Biotech Announces Cancellation of Options and Issuance of Restricted Share Units

WINNIPEG, Manitoba, July 21, 2021 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF), (the “Company” or “Kane Biotech”), today announces that it has cancelled 8,470,555 stock options of the Company (the “Cancelled Options”) of various directors, officers, employees and consultants of the Company. The Company also wishes to announce the issuance of 10,739,488 restricted share units of the Company (“RSUs”) to various directors, officers, employees and consultants of the Company pursuant to the performance and restricted share unit plan of the Company dated April 21, 2021. Each exchanged RSU is exercisable into one common share of the Company (“Shares”) for a period of ten years from the date of grant. The expiry date of the RSUs and the vesting period of the RSUs vary depending on the participant.

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Kane Biotech Announces Cancellation of Options and Issuance of Restricted Share Units

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