Generex Provides Stock Dividend Updates and Guidance
MIRAMAR, Fla., Feb. 06, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (“Generex”) today announced an update on the pending 2:5 stock dividends in Generex and NuGenerex Immuno-Oncology. Generex originally submitted the dividend request for a corporate action to FINRA and paid the applicable fees in November 2019. Since then, the company has responded to FINRA’s requests for further information many times, and we continue in our efforts to work diligently and cooperatively with FINRA to process the dividend. Please note that the company has no control of the FINRA approval process, which is out of Generex’ hands as to timing of any decisions.
Joe Moscato, President & CEO of Generex, said, “We regret the delay in processing the dividend and remain fully committed to paying this valuable dividend to our shareholders. I would like to thank all of you for your patience in this process. We realize this delay has eroded share value, however, based on the exhaustive review by FINRA, we believe that their approval will be givn soon, at which time we will certainly inform shareholders immediately. Generex would like to thank our shareholders for standing behind us, as we continue to work in your interests with a commitment to paying these dividends as soon as possible.”
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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
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