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Generex Announces Intention to Dividend a Portion of Anticipated Amarantus BioSciences Shares to Its Shareholders upon a Reverse Stock Split
Date:6/1/2011

WORCESTER, Mass. and TORONTO, June 1, 2011 /PRNewswire/ -- Generex Biotechnology Corporation (OTCBB: GNBT) (www.generex.com) today announced that it intends to dividend a portion of the shares it receives upon completion of a definitive licensing agreement to license its RapidMist™ buccal drug delivery technologies to Amarantus BioSciences, Inc. (www.amarantus.com), a California-based biotechnology company.

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As announced on May 31, 2011, Generex has signed a binding letter of agreement.  Amarantus will pay a license fee of $10 Million to Generex, which fee will be paid in Amarantus common stock valued at not less than $5 Million and a three-year promissory note upon completion of the definitive licensing agreement.  In addition, the companies will jointly pursue the use of technologies developed by Amarantus for the treatment of diabetes mellitus.  Management of Generex intends to dividend a portion of the Amarantus shares to its stockholders should Generex receive shareholder approval of a reverse stock split proposal and thereafter complete the reverse stock split.  The reverse stock split proposal will be considered at the Generex annual meeting of its stockholders to be held on June 8, 2011.  As stated in the proposal, if approved the reverse split will only be effected if Generex's application for listing on a U.S. national stock exchange is approved contingent only upon Generex meeting the minimum share price requirement of such exchange.  Generex has not yet made application on to an exchange on those terms.

Assuming the reverse split is effected, the dividend is intended to take place only after reaching a definitive licensing agreement with Amarantus, issuance of the Amarantus stock to Generex, and after a registration statement contemplated to be filed by Am
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SOURCE Generex Biotechnology Corporation
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