Philip Renaud files Early Warning Report in respect of Kane Biotech Inc.

MILAN, June 27, 2025 /CNW/ - Philip Renaud (22 Corso Venecia, Milan, Italy 20122), a director of Kane Biotech Inc. (the "Corporation"), today announces that he has subscribed for a 3% unsecured convertible debenture in the principal amount of $1,000,000 of the Corporation due June 26, 2030 (the "Debenture") pursuant to a private placement offering of the Debenture (the "Offering"). The Debenture is convertible at the option of Mr. Renaud up to 10,000,000 common shares of the Corporation ("Common Shares") at a price of $0.10 per Common Share, as described in the Corporation's press releases dated June 18, 2025 and June 26, 2025.

Immediately prior to the Offering, Mr. Renaud, directly or indirectly, had beneficial ownership of, or control and/or direction over, 36,389,711 Common Shares, representing approximately 21.96% of the issued and outstanding Common Shares.

Immediately following the Offering, Mr. Renaud, assuming the full conversion of the Debenture, would directly or indirectly, have beneficial ownership of, or control and/or direction over, 46,389,711 Common Shares, representing approximately 26.40% of the issued and outstanding Common Shares or an increase in Mr. Renaud's securityholding percentage of approximately 4.44% of the issued and outstanding Common Shares.

Mr. Renaud is also the holder of 500,000 restricted share units of the Corporation (the "RSUs"). If all of the RSUs were redeemed, Mr. Renaud would beneficial own, or control and/or direct 46,889,711 Common Shares, representing approximately 26.61% of all of the issued and outstanding Common Shares following such exercises and conversion.

The Debenture acquired by Mr. Renaud pursuant to the Offering were acquired for investment purposes. Mr. Renaud has no current intention to acquire ownership of, or control over, additional securities of the Corporation.

As of the date hereof, the Corporation has 165,711,567 Common Shares issued and outstanding. Upon full conversion of the Debenture, the Corporation would have 175,711,567 Common Shares issued and outstanding.

An early warning report in respect of the above-noted transaction will be filed on SEDAR+ at www.sedarplus.ca. A copy of the early warning report may be obtained from the Corporation by contacting:

SOURCE Phillip Renaud

Dr. Robert Huizinga, Interim CEO, Kane Biotech Inc, [email protected]; Ray Dupuis, Chief Financial Officer, Kane Biotech Inc, [email protected]