WINNIPEG, MANITOBA--(CCNMatthews - April 20, 2006) - Kane Biotech Inc. (TSX VENTURE:KNE) (the "Company"), a leading biofilm company, announces today an offering (the "Private Placement") by way of a non-brokered private placement of up to 2,000,000 common shares (the "Shares") at a price of $0.60 per Share for aggregate proceeds of up to $1,200,000. The proceeds of the Private Placement will be used for research and development and working capital purposes. The Private Placement will be made by the Company in reliance on applicable private placement exemptions in all Provinces of Canada and Overseas. The Offering is subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange. A finder's fee is expected to be paid in connection with the Private Placement.
