Navigation Links
Generex Secures Commitments for $3.6M Capital Raise
Date:1/25/2012

WORCESTER, Mass. and TORONTO, Jan. 25, 2012 /PRNewswire/ -- Generex Biotechnology Corporation (OTCBB: GNBT) announced today that it has secured two commitments for an aggregate capital raise of CA$3,600,000.  This funding is structured as term loans of one year from private lenders secured by the Company's real estate.  Interest on the loans is payable monthly at the rate of 10% per annum.

"This capital infusion will permit the Company to advance its redevelopment plans, and to do so in a manner that is not dilutive to our stockholders," commented Mark Fletcher, Generex's President & Chief Executive Officer.

The first loan, for an aggregate of CA$2,500,000, closed on January 19, 2012.  A portion of the Company's real estate is subject to a prior ranking mortgage in the approximate amount of CA$1,100,000.  A portion of the first loan equal to that amount has been placed in escrow pending discharge of the prior ranking mortgage.

The second loan, for an aggregate of CA$1,100,000, is designed to discharge the prior ranking mortgage.  The second loan is scheduled to close on or before January 30, 2012, whereupon the escrowed portion of the first loan will be released to the Company.

About Generex Biotechnology Corporation

Generex is engaged in the research, development, and commercialization of drug delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company's proprietary RapidMist™ device.  Antigen Express, Inc. is a wholly owned subsidiary of Generex.  The core platform technologies of Antigen Express comprise immunotherapeutic vaccines for the treatment of
'/>"/>

SOURCE Generex Biotechnology Corporation
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Generex Subsidiary Antigen Express Provides Update on AE37 Cancer Vaccines Clinical & Regulatory Strategy
2. Breast Cancer Vaccine Being Developed by Generex Subsidiary Antigen Express to be Featured on Bloomberg Television Today
3. Leading Investigator to Present Clinical Data on Generex Oral-lyn™ at International Diabetes Federation Meetings in Dubai
4. Generex Provides Update on Generex Oral-lyn™ Clinical & Regulatory Program
5. Generex Makes Podium Presentation of Clinical Data on Generex Oral-lyn™ at European Association for the Study of Diabetes Annual Meeting
6. Generex Provides Update on Spinout of Antigen Express
7. Generex Augments Cash Position With Sales of Non-Essential Assets
8. Amarantus BioSciences and Generex Biotechnology Collaborate on Cell Therapy for Late Stage Diabetes
9. Generex Announces Publication of Studies with the Mayo Clinic Confirming and Extending the Antigen Express Ii-Key Platform Technology
10. Generex Announces U.S. Congressman Curt Weldon, Co-Founder of the Congressional Diabetes Caucus, to Champion Generex Initiatives in Asia and North America
11. Generex Provides Clarification of Facts
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/22/2015)... 22, 2015 Crystal Diagnostics (CDx) Xpress System, ... has received AOAC-PTM Certifications for the six non-O157 Shiga toxin-producing ... collectively referred to as STEC or the “Big-6”) as well ... unit (cfu) per 325 g of raw ground beef and ...
(Date:1/22/2015)... 22, 2015 Selexis SA, a serial ... Cell Banks (RCBs) used for drug discovery to commercial ... will include Next-Generation Sequencing (NGS) data packages. ... biologic manufacturing by ensuring the integrity of the gene, ...
(Date:1/22/2015)... , Jan. 22, 2015   GenoSpace , a precision ... tools to enable the broad use of genomic, imaging and ... the appointment of Michelle Munson , CEO of Aspera, ... Logo - http://photos.prnewswire.com/prnh/20150122/170713 ...
(Date:12/24/2014)... Dec. 24, 2014  Vermillion, Inc. (Nasdaq:   VRML), ... announced today that the Company closed its previously ... Management, Jack W. Schuler , Birchview Fund ... $10.5 million, before offering expenses.  The proceeds will ...
Breaking Biology Technology:Crystal Diagnostics Awarded AOAC-PTM Accreditation for the Rapid Detection of “Big 6” E.coli Food Pathogens 2Selexis Generated Research Cell Banks Now Fully Sequenced Using Next-Generation Sequencing 2GenoSpace Expands Board with Appointment of Michelle Munson 2Vermillion Announces Closing of Equity Financing 2Vermillion Announces Closing of Equity Financing 3
... the leading,management consulting firm specializing in the pharmaceutical ... practice,will be taking a leadership role at the ... by the Center for Business Intelligence,(CBI). The conference ... Crown Plaza,Valley Forge in King of Prussia, Pennsylvania. ...
... (Nasdaq:,CPHD) will present at the William Blair & ... at 10:40 a.m. ET at the New York ... Financial Officer and Dr.,David Persing, Cepheid,s Chief Medical ... The webcast, along with accompanying presentation slides, may ...
... The Netherlands and LONDON, September 26 ,Nobilon International ... business,unit of Akzo Nobel, and Protherics PLC, the ... today announced that Nobilon,has licensed Protherics, CoVaccine HT(TM) ... influenza vaccines in elderly people. More than ...
Cached Biology Technology:Campbell Alliance Managed Markets Practice to Take Leadership Role at CBI's Formulary and Reimbursement Conference 2Campbell Alliance Managed Markets Practice to Take Leadership Role at CBI's Formulary and Reimbursement Conference 3Cepheid to Present at William Blair Small-Cap Growth Stock Conference 2Protherics Licenses its CoVaccine HT Adjuvant to Nobilon for Influenza Vaccine Indications 2Protherics Licenses its CoVaccine HT Adjuvant to Nobilon for Influenza Vaccine Indications 3
(Date:1/22/2015)... NXTD and NXTDW) a biometric authentication company focused on ... Wocket™ smart wallet at CES 2015 in Las Vegas ... the "11 Hot Products at CES" in a review published in Wired.com, ... Newseveryday.com and "The top 10 gadgets from CES 2015" by Danny ...
(Date:1/22/2015)...   EyeLock, Inc. , a market leader of iris-based identity ... to the new role of Senior Vice President of ... of mobile platforms and wearable solutions for EyeLock,s technologies. Gerber ... the semiconductor industry to his role at EyeLock, with expertise ...
(Date:12/22/2014)... Holiday Season may be the brightest ever for the ... long anticipated floodgates for consumer biometrics may finally be ... tablets, and wearable mobile devices that incorporate biometrics will ... nearly 4.8 billion biometric devices by 2020.   ...
Breaking Biology News(10 mins):CES Response for NXT-ID's Wocket Smart Wallet Kicks Off 2015 2CES Response for NXT-ID's Wocket Smart Wallet Kicks Off 2015 3EyeLock Names Steve Gerber as Senior Vice President of Mobile and Wearables 2First Season of Holiday Shopping with Mobile Biometric Payments Wraps Up With a Present for Biometrics Industry: A Rosy Forecast for More Than 2 Billion Users of 4.8 Billion Mobile Biometric Devices by 2020 2
... 23, 2010 Age and gender play a major role ... study on 20-to-64-year-olds. Published in the journal Psychophysiology , ... Montral and the Montreal Heart Institute in collaboration with colleagues ... "Our findings suggest that women who are more defensive ...
... new study at The University of Western Ontario finds the ... may provide unforeseen health benefits. The research, led by ... marinades may be more than just tasty sauces they ... paper was co-authored by Mark Bernards and Christopher Guglielmo in ...
... into what our world looked like millions of years ago. ... most common plants today), first appear in the fossil record ... which these fossils are deposited, it is thought that early ... in highly disturbed riparian stream channels and crevasses. ...
Cached Biology News:Men and women respond differently to stress 2Spice up your health this barbecue season 2Can the morphology of fossil leaves tell us how early flowering plants grew? 2