BRIEF-Kane Biotech private placement offering of up to 50 mln shares
June 2 (Reuters) - Kane Biotech Inc
* Kane biotech announces private placement offering and proposed consolidation of shares
* Net proceeds of offering will be used for development and marketing of company's products
* Has agreed to seek approval of its shareholders for a consolidation of common shares on a five to one basis
* Non-Brokered private placement offering of up to 50 million common shares at a price of $0.03 per common share Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)
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