Generex Biotechnology Announces Update to the Previously Declared 1:1 Stock Dividend
MIRAMAR, Fla., Aug. 12, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (“Generex”) today announced that it was proceeding with the dividend in anticipation of listing on Nasdaq. Therefore, Generex plans to reward Generex’s loyal shareholders by announcing a new Record Date of August 30, 2019, along with a Pay Date of October 30, 2019, with the Ex-Date of October 31, 2019, for the payment of the 1:1 stock dividend to shareholders. The Company remains optimistic in its ability to list on Nasdaq and with the confusion by the shareholders on the pay date, Generex wanted to provide its shareholders with a definitive Pay Date.
Joseph Moscato, Generex President & Chief Executive Officer stated, “With this definitive Pay Date, Generex is able to reward our shareholders with a 1:1 dividend and provide the market with certainty on the timing of the 1:1 stock dividend payment.
Mr. Moscato continued, “We hope to provide our shareholders with transparency and greater certainty as we continue to execute on our strategic plan to build a new model for healthcare. Thanks again to our GNBT shareholders for whom we work every day to achieve our goals and build value for Generex.”
Note that GNBT shareholders who hold shares on August 30, 2019 are entitled to receive the 1:1 stock dividend to be paid on October 30, 2019. If shareholders sell their shares between August 30th and October 31st, the rights to the dividend will be transferred to the buyer.
About Generex Biotechnology Corp.
In addition to advancing a legacy portfolio of immune-oncology assets, medical devices, and diagnostics, the Company is focused on an acquisition strategy of strategic bsinesses 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.
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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