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

MILAN, May 6, 2025 /CNW/ - Philip Renaud (22 Corso Venecia, Milan, Italy 20122), a director of Kane Biotech Inc. (the "Corporation"), today announces that he has acquired 10,000,000 common shares of the Corporation ("Common Shares") at a price of $0.10 per Common Share for aggregate consideration of $1,000,000 in connection with the Corporation's previously announced private placement offering of 12,000,000 Common Shares that was completed on May 5, 2025 (the "Offering"), as described in the Corporation's press releases dated April 28, 2025 and May 5, 2025.

Immediately prior to the Offering, Mr. Renaud, directly or indirectly, had beneficial ownership of, or control and/or direction over, 26,389,711 Common Shares, representing approximately 17.17% of the issued and outstanding Common Shares.

Immediately following the Offering, Mr. Renaud, directly or indirectly, had beneficial ownership of, or control and/or direction over, 36,389,711 Common Shares, representing approximately 21.95% of the issued and outstanding Common Shares or an increase in Mr. Renaud's securityholding percentage of approximately 4.78% of the issued and outstanding Common Shares.

Mr. Renaud is also the holder of 2,122,095 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 38,511,806 Common Shares, representing approximately 22.95% of all of the issued and outstanding Common Shares following such exercises and conversion.

The Common Shares 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.

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]