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Posted On: 11/26/2019 1:42:16 PM
Post# of 36566
Just released.
MIRAMAR, Fla., Nov. 26, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (OTCQB: GNBT) has issued a shareholder alert regarding recent trading activity that has adversely affected the company and its shareholders. It has been brought to our intention that Creek Mountain Fund, from which Generex acquired 20% of Olaregen Therapeutix shares in exchange for GNBT shares, has been illegally selling its 4 million share position without notifying the Securities & Exchange Commission nor Generex shareholders of their plans to sell the GNBT stock through filing a Form 13g.
Joe Moscato, President & CEO of Generex stated, “It is unfortunate that Creek Mountain has decided to hurt Generex and our shareholders with their actions. Generex is working with our legal team to review compliance with our asset purchase agreements (APAs) that include lock up and leak out provisions, as well as the Waiver Agreement that Creek Mountain signed regarding the 1:1 share dividend that Generex will pay to shareholders on November 29, 2019. We will provide further details as information emerges.”
MIRAMAR, Fla., Nov. 26, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (OTCQB: GNBT) has issued a shareholder alert regarding recent trading activity that has adversely affected the company and its shareholders. It has been brought to our intention that Creek Mountain Fund, from which Generex acquired 20% of Olaregen Therapeutix shares in exchange for GNBT shares, has been illegally selling its 4 million share position without notifying the Securities & Exchange Commission nor Generex shareholders of their plans to sell the GNBT stock through filing a Form 13g.
Joe Moscato, President & CEO of Generex stated, “It is unfortunate that Creek Mountain has decided to hurt Generex and our shareholders with their actions. Generex is working with our legal team to review compliance with our asset purchase agreements (APAs) that include lock up and leak out provisions, as well as the Waiver Agreement that Creek Mountain signed regarding the 1:1 share dividend that Generex will pay to shareholders on November 29, 2019. We will provide further details as information emerges.”
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