Kane Biotech Announces Issuance of Common Shares in Payment of Outstanding Interest

Kane Biotech Inc. (TSX VENTURE:KNE) (the "Corporation") today announced that it
has issued 149,517 common shares of the Corporation ("Common Shares") at a
deemed price per share of $.085 in payment of $12,708.91 in interest owing on
the Corporation's $500,000 2 year 10% convertible redeemable unsecured note (the
"Note") as at June 18, 2014. Pursuant to the terms of the Note, the Corporation
has the option to issue Common Shares in lieu of cash in payment of interest on
the Note at a deemed price per share equal to the market price of the Common
Shares on the applicable interest payment date, subject to the approval of the
TSX Venture Exchange (the "Exchange"). The approval of the Exchange for the
issuance of the Common Shares was obtained by the Corporation June 24, 2014.


The holder of the Note is Philip Renaud, a director and the Chairman of the
Corporation. As Mr. Renaud is a director and Chairman of the Corporation, the
issuance of the Common Shares to Mr. Renaud in payment of interest owing to him
is considered to be a "related party transaction" for the purposes of
Multilateral Instrument 61-101 Protection of Minority Security Holders in
Special Transactions ("MI 61-101"). In accordance with MI 61-101, the
Corporation is not required to obtain a formal valuation or minority approval of
the transaction due to the fact that it may rely on an exemption to those
requirements contained in MI 61-101, namely that the fair market value of the
transaction is not more than 25% of the market capitalization of the
Corporation.


About Kane Biotech Inc.

Kane Biotech is a biotechnology company engaged in the development of products
to prevent and disperse biofilms. Biofilms develop when bacteria, and other
microorganisms, form a protective matrix that acts as a shield against attack.
When in a biofilm, bacteria become highly resistant to antibiotics, biocides,
disinfectants, high temperatures and host immune responses. This resiliency
contributes to human health problems such as recurrent urinary tract infections,
medical device associated infections and tooth decay.


Kane Biotech uses a patent protected technology based on molecular mechanisms of
biofilm formation and methods for finding compounds that inhibit or disrupt
biofilms. The Corporation has evidence that this technology has potential to
significantly improve the ability to prevent and/or destroy biofilms in several
medical and industrial applications.


The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.


Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking
information within the meaning of applicable Canadian provincial securities
legislation (collectively, "forward-looking statements"). These forward-looking
statements relate to, among other things, our objectives, goals, targets,
strategies, intentions, plans, beliefs, estimates and outlook, including,
without limitation, our anticipated future operating results, and can, in some
cases, be identified by the use of words such as "believe," "anticipate,"
"expect," "intend," "plan," "will," "may" and other similar expressions. In
addition, any statements that refer to expectations, projections or other
characterizations of future events or circumstances are forward-looking
statements.


These statements reflect management's current beliefs and are based on
information currently available to management. Certain material factors or
assumptions are applied in making forward-looking statements, and actual results
may differ materially from those expressed or implied in such statements.
Important factors that could cause actual results to differ materially from
these expectations include, among other things: the Corporation's early stage of
development, lack of product revenues and history of operating losses,
uncertainties related to clinical trials and product development, rapid
technological change, uncertainties related to forecasts, competition, potential
product liability, additional financing requirements and access to capital,
unproven markets, supply of raw materials, income tax matters, management of
growth, partnerships for development and commercialization of technology,
effects of insurers' willingness to pay for products, system failures,
dependence on key personnel, foreign currency risk, risks related to regulatory
matters and risks related to intellectual property and other risks detailed from
time to time in the Corporation's filings with Canadian securities regulatory
authorities, as well as the Corporation's ability to anticipate and manage the
risks associated with the foregoing. The Corporation cautions that the foregoing
list of important factors that may affect future results is not exhaustive. When
relying on the Corporation's forward-looking statements to make decisions with
respect to the Corporation's, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.


These risks and uncertainties should be considered carefully and prospective
investors should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press release are
based upon what management believes to be reasonable assumptions, the
Corporation cannot provide assurance that actual results will be consistent with
these forward-looking statements. The Corporation undertakes no obligation to
update or revise any forward-looking statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Gord Froehlich
President & CEO
Kane Biotech Inc.
204-477-7592
204-474-7552 (FAX)
ir@kanebiotech.com
www.kanebiotech.com
Kane Biotech (TSXV:KNE)
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