SOMEWHERE, Fla., December 16, 2021 — Generex Bio
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Posted On: 12/16/2021 4:08:46 PM
SOMEWHERE, Fla., December 16, 2021 — Generex Biotechnology Corporation (OTCQB:GNBT), the leader in never finishing anything, announced today that they signed a Letter of Intent (LOI) with NuGenerex Immuno-Oncology (NGIO) to conduct a reverse merger of Generex Biotechnology Corporation and its subsidiaries NuGenerex Health, NuGenerex Regenerative, NuGenerex Diagnostics and NuGenerex Therapeutics with NuGenerex Immuno-Oncology, of which it currently holds a 90.93% majority ownership.
Current shareholders of GNBT stock will receive 1 share of NGIO stock for every 5,000 shares of GNBT. Current shareholders of NGIO stock will receive 1 dividend share for every 2.5 shares of GNBT. NGIO is not currently listed on a public exchange, and the company is planning an IPO in the coming years. NGIO shares are currently available for purchase on the OTC Expert Market under the NUGX symbol for less than book value ($0.01).
Due to the fact that both companies are currently undergoing SEC criminal investigations, the board membership and executive officer makeup could change drastically in the near future and could affect the outcome of the merger. Both companies are still trying to contact board members. Due to the pandemic and technical problems, contact with most board members has been lost.
The transaction still needs regulatory and board approval from both companies, which is highly unlikely, even though the CEO of both companies is the same person.
For further information, please do not contact either company, they are under a gag order.
Current shareholders of GNBT stock will receive 1 share of NGIO stock for every 5,000 shares of GNBT. Current shareholders of NGIO stock will receive 1 dividend share for every 2.5 shares of GNBT. NGIO is not currently listed on a public exchange, and the company is planning an IPO in the coming years. NGIO shares are currently available for purchase on the OTC Expert Market under the NUGX symbol for less than book value ($0.01).
Due to the fact that both companies are currently undergoing SEC criminal investigations, the board membership and executive officer makeup could change drastically in the near future and could affect the outcome of the merger. Both companies are still trying to contact board members. Due to the pandemic and technical problems, contact with most board members has been lost.
The transaction still needs regulatory and board approval from both companies, which is highly unlikely, even though the CEO of both companies is the same person.
For further information, please do not contact either company, they are under a gag order.
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