GNBT- Generex Provides Update to
Pending 1:1 Stock Dividend
MIRAMAR, FL -- June 7, 2019 -- InvestorsHub NewsWire -- Generex
Biotechnology Corporation (www.generex.com) (GNBT)
(http://www.otcmarkets.com/stock/GNBT/quote),
in response to the large volume of investor calls, today provided
an update on its new 1:1 dividend that has been approved by the
Generex Board of Directors and as previously announced, will be
declared on June 20, 2019, subject to any necessary regulatory
approvals. This dividend will be tied to a NASDAQ or NYSE stock
listing and will be paid on the day the Company is up-listed. The
Company plans to submit an up-list application to an exchange
shortly after the June 21, 2019 shareholders conference call.
Please note, for the dividend to be declared, certain non-float
holding shareholders will have to waive their rights to receive the
dividend; not all have provided written agreement at this time.
Joe Moscato, President and Chief Executive Officer of Generex
said, “When we took control of Generex in January 2017, we had a
3-step plan to return the Company to a national stock exchange
through reorganization as a healthcare and life science holding
company: 1) transformation from a development company to an
end-to-end solutions provider with products and services that flow
through to proprietary market channels; 2) an acquisition strategy
that integrates product and service companies that generate
revenues, profits and intracompany synergies among the NuGenerex
family of companies; and 3) building out the end-to-end healthcare
model with an HMO. We hope to accomplish this last objective
through establishing NuGenerex Chronic Care Solutions, an
ophthalmology, podiatry, and chronic care management company with a
multi-clinic endocrinology group in Arizona, and with the
buildout of NuGenerex Health in conjunction with industry leaders
in the space who have launched and sold multiple successful HMOs in
the past.”
Mr. Moscato continued, “Paying this dividend to our shareholders
upon the up-listing to a major exchange will complete our 3-stage
plan and will set the future growth strategy in place. Our
up-listing will enable Generex to advance our acquisition strategy
and to complete the buildout of our planned managed care
organization, grow our revenue streams, expand and develop our
distribution channels, complete the geographic expansion of our
MSO, and build a New Life Sciences Company. Management is
confident that we will continue to execute on our plans, and with
this dividend to shareholders, I’m quite happy to share our
successes and future opportunities with our valuable
shareholders. I look forward to providing further details and
answering questions on our shareholders conference call on June 21,
2019. We will provide call-in information in a future
announcement.”
About Generex Biotechnology Corp.
Generex Biotechnology is an integrated healthcare holding company
with end-to-end solutions for patient centric care from rapid
diagnosis through delivery of personalized therapies. Generex is
building a new kind of healthcare company that extends beyond
traditional models providing support to physicians in an MSO
network, and ongoing relationships with patients to improve the
patient experience and access to optimal care.
In addition to advancing a legacy portfolio of immuno-oncology
assets, medical devices, and diagnostics, the Company is focused on
an acquisition strategy of strategic businesses that complement
existing assets and provide immediate sources of revenue and
working capital. Recent acquisitions include a management services
organization, a network of pharmacies, clinical laboratory, and
medical device companies with new and approved products.
Our newly formed, wholly-owned subsidiary, NuGenerex
Distribution Solutions (NDS), integrates our MSO network with a
pharmacy network, clinical diagnostic lab, durable medical
equipment company (DME-IQ) and dedicated call center.
Cautionary Note Regarding Forward-Looking
Statements
This release and oral statements made from time to time by
Generex representatives in respect of the same subject matter may
contain "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
can be identified by introductory words such as "expects," "plan,"
"believes," "will," "achieve," "anticipate," "would," "should,"
"subject to" or words of similar meaning, and by the fact that they
do not relate strictly to historical or current facts.
Forward-looking statements frequently are used in discussing
potential product applications, potential collaborations, product
development activities, clinical studies, regulatory submissions
and approvals, and similar operating matters. Many factors may
cause actual results to differ from forward-looking statements,
including inaccurate assumptions and a broad variety of risks and
uncertainties, some of which are known and others of which are not.
Known risks and uncertainties include those identified from time to
time in the reports filed by Generex with the Securities and
Exchange Commission, which should be considered together with any
forward-looking statement. No forward-looking statement is a
guarantee of future results or events, and one should avoid placing
undue reliance on such statements. In particular, no statement
about the intention to list Generex stock on a national exchange
should be taken as a guarantee that we will qualify for and be
accepted by any such exchange. Generex undertakes no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise. Generex claims the protection of the safe harbor
for forward-looking statements that is contained in the Private
Securities Litigation Reform Act.
Generex Contact:
Generex Biotechnology Corporation
Joseph Moscato
646-599-6222
Todd Falls
1-800-391-6755 Extension 222
investor@generex.com
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