Generex Congratulates their Shareholders as FINRA has Officially Posted the Approval of the Generex Corporate Action and Payment of the Generex and NuGenerex Immuno-Oncology Stock Dividends on Monday, February 24, 2020
- Dividends officially to be paid on Monday, February 24, 2020
• Shareholders to receive 2 to 5 stock dividend of Generex Biotechnology shares plus an additional 2 to 5 stock dividend of NuGenerex Immuno-Oncology shares
- Ex-Date will be February 25, 2020
MIRAMAR, Fla., Feb. 24, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (“Generex”) today announced that FINRA has officially posted the Generex 2:5 stock dividends in Generex and NuGenerex Immuno-Oncology to the FINRA web site, and the dividends will be paid on Monday, February 24, 2020. Remember that anyone who sells their shares before the market close on the ex-date of February 25th will lose the dividend, which will be transferred to the buyer of your shares.
Joe Moscato, President & CEO of Generex, said, “I would like to extend my congratulations and sincere thanks to our valued shareholders, because we can now officially declare that the stock dividends will be paid on Monday the 24th as FINRA has posted the approval of our corporate action on their web site. I would like to thank all of you for your patience and support of Generex throughout this process, which has delayed our plans for five months. We realize this delay has eroded share value, however, with the dividend paid, we are now we are poised for growth and success.”
Mr. Moscato continued, “With the dividend being paid next week, and our Generex S-1 registration statement filed, we can now execute fully on our plans. As a first step next week, we will be filing an S-1 for the spin out of NuGenerex Immuno-Oncology, with goal of listing directly onto the Nasdaq. With the S-1 funding, our subsidiaries can increase manufacturing, sales & marketing, and distribution of our revenue generating products. Our subsidiaries MediSource and Pantheon are already delivering sales growth of nearly 400% year over year, and we can now scale manufacturing to expand this growth. As Excellagen continues to gain approval from VAC committees in the VA system, we can expand the Olaregen sales force and implement our product line extension with Excellagen Aesthetics into the aesthetic dermatology market. We will turn on our public company MSO for orthopedic surgeons and podiatrists, and we will build NuGenerex Health in Arizona to deliver an integrated, multi-disciplinary diabetes management solution with our physician partners and continuing our efforts in diabetes, we will close on our acquisition of ALTuCELL, which is initiating human clinical trials of implanted cellular therapy using Altucaps for the treatment of Type I diabetes. We are excited about our opportunities to deliver exceptional value to our shareholders in 2020 as we achieve the success that we envisioned when we took over the company three years ago.”
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.
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. 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 Biotechnology Corporation
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