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Generex Announces That the Process to Retire 20,375,900 GNBT "Pool Shares" is CompleteMIRAMAR, Fla., Sept. 20, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/ GNBT/quote) today announced that the legal and regulatory process to retire the 20,375,900 “Pool” shares is complete. The Pool shares have been retired back to the “Authorized and Unissued” position in the Generex corporate treasury as requested on 9/12/2019 by Joe Moscato, Generex President & Chief Executive Officer, who controls the Pool shares for the benefit of Generex. As of today, September 20, 2019 the Friends of Generex Pool account shows zero shares, and in the coming days, the market will reflect the Pool retirement with a reduction in our outstanding share count by over 20 million shares. Mr. Moscato stated, “By retiring the Pool shares, we are returning more value to Generex shareholders as we get closer to our Nasdaq listing, the annual board meeting and our 1:1 dividend scheduled to be paid to our shareholders on October 29th. We are fully confident in our go-forward plans to ignite our diabetes management platform and up-list to Nasdaq; plans are underway for the spin-out of NuGenerex Immuno-Oncology. We are also establishing NuGenerex Health in collaboration with our partners at Arizona Endocrinology Center and Paradise Valley Family Medicine to provide ancillary health and management services to a large population of patients with diabetes. Together with the clinics and the ongoing acquisition of ALTuCELL with their revolutionary cell therapy Altsulin, we have a powerful platform to build out our MSO and HMO model. We are particularly excited about Altsulin, ALTuCELL’s microencapsulated Sertoli cell therapy that offers the potential to cure Type I diabetes; the first in human trials of Altsulin are scheduled to begin in the fourth quarter of this year. We are driving toward success into the future and we will work with our development partners, the NuGenerex Health clinics and their patients to accelerate the clinical development path for Altsulin for Type I diabetes, and for the relaunch of our reformulated Oral-Lyn II buccal insulin spray for Type II diabetes.” About Generex Biotechnology Corp. 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. About Olaregen Therapeutix About Pantheon Medical About MediSource Partners 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 |