Generex Biotechnology Corporation (OTCMKTS:GNBT) Issues An Update On Dividend Payout To The Shareholders

Generex
Biotechnology Corporation (OTCMKTS:GNBT)
said it has submitted a request to FINRA for
corporate action and also released the applicable fees in November 2019. The
company further said it has responded to the requests of FINRA several times
and put in significant efforts to distribute the dividend in the ratio of 2:5
in Generex and NuGenerex Immuno-Oncology.

Chief Executive Officer and President of
Generex, Joe Moscato, said the company will distribute the dividend to the
shareholders on February 24, 2020. Therefore, it fulfills the promise given to
the shareholders. According to FINRA, the record date set on August 30, 2020,
is too long.  Now, the record date for
the dividend is set on February 17, 2020. It is on the backdrop of approval
received from FINRA.

Investor
Conference on February 13, 2020

The topics for discussion during the investor
conference include Nasdaq listing, Arizona operations, NGIO spinout, S1
funding, 5:2 dividends, and 2019-nCOV-corona. Joe and his team will explain how
NuGenerex Immuno-oncology li-key technology activates the immune system to get
protection from a myriad of viruses that include the H5N1 avian influenza
virus. They will also review the work done by the government agencies and
development partners for implementing li-key peptide vaccines.

The team expects to use the li-key peptide
vaccines to improve immunity to Avian influenza and the 2019-nCOV. They will
also discuss to involve NuGenerex Diagnostics for developing a rapid test for
the 2019-nCOV in blood and respiratory samples with the help of NGDx Express 2
rapid diagnostic technologies.

Update on
corporate actions

Joe will issue an update on the forthcoming
corporate actions that include the NASDAQ listing process, S1 funding,
completing ALTuCELL takeover, initiating Arizona operations, and a solution for
managing the diabetes patients.

On receipt of S1 funding, Generex will use the
proceeds to support the commercial operations of its subsidiaries with
operating, marketing, and sales budgets. The company will introduce new
products from Olarex, Dermacell, and Olaregen that expect to generate
significant sales. It will also broaden the Excellagen sales team. The company
is pleased to unveil Excellagen Aesthetics. Joe said the company will improve
the marketing and sales efforts and develop an inventory of Pantheon and
MediaSource partners to concentrate on revenue growth and global expansion.

Published at Wed, 19 Feb 2020 13:24:00 +0000

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