Generex Announces Results of Annual Stockholders’ Meeting

MIRAMAR, Fla., Oct. 25, 2019 (GLOBE NEWSWIRE) -- /(Business Wire)/-- Generex Biotechnology Corporation () (OTCQB:GNBT) () today announced the results of the annual meeting of the Company’s stockholders held on October 25, 2019. Brian McGee, Dr. James H. Anderson, Jr., MD, Dr. Craig Eagle, MD, and Larry Salvo were re-elected as independent members of the Company’s Board of Directors. Omar Gzouli and Mark Prioletti were elected as new independent Board Members, and Joseph Moscato, the Company’s President & Chief Executive Officer, and Andrew Ro, the Company’s Chief Investment Officer, were also re-elected to the Board.

The proposal to ratify the appointment of Mazurs USA LLP as independent public accountants in respect of the Company’s fiscal year-end was approved by the stockholders.

A Form 8-K Current Report in respect of the specific voting results will be filed with the U.S. Securities and Exchange Commission today.

The Company intends to schedule an investor conference call in the coming weeks to update stockholders on the effectuation of the Company’s business plans.

Mr. Moscato commented: “I am pleased that the holders of over 70% of the Company’s outstanding shares cast votes at the meeting and that my fellow stockholders have supported Generex management with the approval of our Board of Directors and a vote of confidence in our go-forward plans. Welcome to our new board members Omar Gzouli and Mark Prioletti; it is a pleasure to work with you and the rest of our board to make Generex a success.”

Mr. Moscato further stated: “In the last year, we have made significant progress on the Generex strategic plan, building value for our shareholders, as detailed in our 10K annual report that will be filed in the coming days. I would like to congratulate the Generex Board and management team on the successful implementation of our three-phase plan that to bring GNBT back to the Nasdaq national market. In the coming weeks, we will host an investor conference call to highlight company achievements as we continue to pursue our Nasdaq up-listing and the NuGenerex Immuno-Oncology merger and separate listing on the public markets. During the call we will also introduce our newest acquisition, ALTuCELL, and discuss our new business venture to implement our end-to-end strategy for diabetes care, from discovery to bedside, with Arizona Endocrinology Center and Paradise Valley Family Medicine. We look forward to an exciting and rewarding 2020.”

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 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. 

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

646-599-6222

Todd Falls

800-391-6755 Extension 222