Generex Announces Update on 1:1 Dividend and NASDAQ ListingPosted on July 1, 2019
MIRAMAR, Fla., June 28, 2019 (GLOBE NEWSWIRE) — Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today provided guidance on the previously announced 1:1 GNBT stock dividend. After discussing our listing with Nasdaq officials and our transfer agent Broadridge Financial Solutions, Inc., the dividend will be paid the day after our listing to the Nasdaq stock exchange, not on the same day as the listing as previously stated. In addition, Generex has been working on the application for the up-listing, and we have notified the Nasdaq that we will be submitting the application in the coming days.
Joe Moscato, President & Chief Executive Officer of Generex stated, “We are very close to submitting our application to Nasdaq for the up-list, and we have gotten positive input and direction from Nasdaq officials. The listing on the Nasdaq exchange is the last piece in our overall plan we put forth in January 2017 and ends with our 1:1 dividend to shareholders after we are listed. We are excited about the potential listing on Nasdaq, which will ensure our future and provide Generex with a significant benefit as it relates to raising capital and investor liquidity while building sustainable value for our shareholders. We will announce to our shareholders when the application is submitted.”
About Generex Biotechnology Corporation.
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 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.
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 anduncertainties, 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.