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Generex Announces $1,225,000 Capital Investment
Date:6/17/2013

preferred stock has an effective conversion price of $0.03 per share, subject to adjustment under certain circumstances.  The convertible preferred stock will accrue a 9% dividend until June 17, 2016 and, beginning on June 17, 2016, and on each one year anniversary thereafter, such dividend rate will increase by an additional 3%.  The dividend will be payable quarterly in cash, or at the Company's option, in shares of common stock.  In the event that the convertible preferred stock is converted prior to June 17, 2016, the Company will pay the holder of the converted preferred stock an amount equal to $270 per $1,000 of stated value of the convertible preferred stock, less the amount of all prior quarterly dividends paid on such converted preferred stock before the relevant conversion date.  Such "make-whole payment" may be made in cash or, at the Company's option subject to the satisfaction of certain conditions, in shares of its common stock. 

Subject to certain ownership limitations, the warrants will be exercisable at any time after their date of issuance and on or before the five year anniversary thereafter at an exercise price of $0.03 per share of common stock, subject to adjustment under certain circumstances.  The exercise price and number of shares of common stock issuable upon exercise will also be adjusted on a full ratchet basis if the Company sells or grants any shares of common stock or securities convertible into, or rights to acquire, common stock at an effective price per share that is lower than the then exercise price, except in the event of certain exempt issuances. 

Generex intends to use the net proceeds (approximately $1,165,000) from the offering for general corporate purposes.

The closing is expected to take place on or about June 20, 2013 subject to the satisfaction of customary closing conditions.

This announcement shall not constitute an offer to sell or the solicitation of
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SOURCE Generex Biotechnology Corporation
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