TMCnet - World's Largest Communications and Technology Community



Generex Biotechnology Issues Shareholder Alert
[November 26, 2019]

Generex Biotechnology Issues Shareholder Alert

MIRAMAR, Fla., Nov. 26, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (OTCQB: GNBT) has issued a shareholder alert regarding recent trading activity that has adversely affected the company and its shareholders. It has been brought to our intention that Creek Mountain Fund, from which Generex acquired 20% of Olaregen Therapeutix shares in exchange for GNBT shares, has been illegally selling its 4 million share position without notifying the Securities & Exchange Commission nor Generex shareholders of their plans to sell the GNBT stock through filing a Form 13g.

Joe Moscato, President & CEO of Generex stated, “It is unfortunate that Creek Mountain has decided to hurt Generex and our shareholders with their actions. Generex is working with our legal team to review compliance with our asset purchase agreements (APAs) that include lock up and leak out provisions, as well as the Waiver Agreement that Creek Mountain signed regarding the 1:1 share dividend that Generex will pay to shareholders on November 29, 2019. We will provide further details as information emerges.”

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 healthcre 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 immune-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.  

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 Contact:

Generex Biotechnology Corporation

Joseph Moscato

Todd Falls
1-800-391-6755 Extension 222

Primary Logo

[ Back To's Homepage ]

Technology Marketing Corporation

2 Trap Falls Road Suite 106, Shelton, CT 06484 USA
Ph: +1-203-852-6800, 800-243-6002

General comments:
Comments about this site:


© 2020 Technology Marketing Corporation. All rights reserved | Privacy Policy