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Generex Plans Rights Offering Upon Approval of Reverse Stock Split and Listing on a National Stock Exchange
Date:3/30/2011

WORCESTER, Mass. and TORONTO, March 30, 2011 /PRNewswire/ -- Generex Biotechnology Corporation (www.generex.com) (OTC Bulletin Board: GNBT) today announced that it plans to initiate a rights offering of common stock and warrants to its stockholders in the event it receives approval for a reverse stock split at the next Annual Meeting of the Company's stockholders scheduled for Wednesday, June 8, 2011 and the Company's common stock is listed for trading on a national stock exchange.  The amount of the offering has not been determined and will be subject to prevailing market conditions. Certain warrant holders will also have the right to participate in the offering.  

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Generex will file a registration statement with the Securities and Exchange Commission forthwith following stockholder approval of a reverse stock split and approval of Generex's application for listing on a national stock exchange contingent only upon Generex meeting the minimum share price requirement of such exchange.  Generex expects the commencement of the offering and the distribution of rights to occur promptly following a national stock exchange listing and effectiveness of the registration statement.  The record date for the distribution of the rights and the dates for both the subscription period and the expiration of the rights offering will be included in the final prospectus.  

Under the proposed terms of the rights offering, Generex will distribute one right to each holder of record of every share of its common stock that is held on the record date.  Each transferable right will entitle the holder to purchase one unit at a subscription price to be determined prior to the effective date of the registration statement.  Each unit will consist of one
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SOURCE Generex Biotechnology Corporation
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