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

MILAN, Dec. 18, 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 14,000,000 common shares the Corporation (the "Common Shares") pursuant to a private placement offering of the Common Shares (the "Offering"). 

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 21.71% of the issued and outstanding Common Shares.

Immediately following the Offering, Mr. Renaud, would directly or indirectly, have beneficial ownership of, or control and/or direction over, 50,389,711 Common Shares, representing approximately 27.75% of the issued and outstanding Common Shares or an increase in Mr. Renaud's securityholding percentage of approximately 6.04% of the issued and outstanding Common Shares.

Mr. Renaud is also the holder of 500,000 restricted share units of the Corporation (the "RSUs") and a $1,000,000 principal amount 3% unsecured convertible debenture of the Corporation due June 30, 2026 that is convertible into up to 10,000,000 Common Shares (the "Debenture"). If all of the RSUs were redeemed and the Debenture was fully converted, Mr. Renaud would beneficially own, or control and/or direct 60,889,711 Common Shares, representing approximately 31.70% of all of the issued and outstanding Common Shares following such exercises and conversion.

The Common Shares were 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 181,596,565 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