Generex Secures Commitments for $3.6M Cap... ( WORCESTER Mass. and TORONTO Jan. 25 2...)

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

0

GOOD

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:

(Date:6/19/2013)... June 19, 2013 Biotechnology industry pioneer Amgen ... financial software provider BlackLine Systems and enterprise application ... ) for a webinar next week entitled "No Account ... BlackLine and SAP to Help Keep Its Account Reconciliations in ... ) The webinar, geared at finance, accounting, ...

(Date:6/19/2013)... Washington (PRWEB) June 18, 2013 A ... complex materials, costs and other trends will highlight technical ... Monterey, California this fall. In its 33rd year, the ... includes an exhibition of key suppliers, approximately 100 technical ... SPIE, the international society for optics and photonics ...

(Date:6/18/2013)... China Cord Blood Corporation (NYSE: CO ) ... blood collection, laboratory testing, hematopoietic stem cell processing, and ... financial results for the fourth quarter and full year ... Fourth Quarter of Fiscal 2013 Highlights ... increased by 33.3% to RMB133.0 million ($21.4 million) from ...

(Date:6/18/2013)... June 18, 2013 The human skin is ... as an important human body part. Similar to the liver, ... order to function, repair and grow. Recent reports from the ... supplements, is just as important as other life supporting organs. ... aid in skin cell reproduction, increase the appearance of skin, ...

[0] Amgen Joins BlackLine Systems, SAP for Webinar on Automating Account Reconciliations [0] ‘Big Glass’ and Visions for the Future are on the Program for SPIE Photomask Technology [0] China Cord Blood Corporation Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2013 [0] Natural Acne Remedies Through Diet, Probiotic Action Shares New Insight on What Foods May Help Lead to Clear Skin

... Renowned Physicians Join World Class Group of AdvisorsSAN DIEGO, ... expansion of its Clinical Advisory Board, naming Donald H. ... as the sixth and seventh members of the group ... Professor of Medicine at Michigan State University ...

... Inc. (Xennex) announced today that it is collaborating ... with access to GeneCards(R) and associated proprietary tools, ... the advanced prototype of GeneCards(R) version 3.0, which ... utilizing GeneCards and the related technology for research ...

... publication in Nature Photonics , a joint team ... DIPC, Centro de Fsica de Materiales of CSIC/UPV-EHU in ... Planck Institute of Biochemistry in Munich (Germany) reports an ... adopting tuning concepts from radio-frequency technology. The method opens ...

Cached Biology Technology:Trius Appoints Don Batts and Ralph Corey to Clinical Advisory Board 2 Xennex Inc. Providing Satoris Inc. with Latest GeneCards(R) Tools for Characterization of Protein Biomarkers Associated With Neurological Conditions 2 Xennex Inc. Providing Satoris Inc. with Latest GeneCards(R) Tools for Characterization of Protein Biomarkers Associated With Neurological Conditions 3 Bridging the gap in nanoantennas 2 Bridging the gap in nanoantennas 3

Trius Appoints Don Batts and Ralph Corey to Clinical Advisory Board Xennex Inc. Providing Satoris Inc. with Latest GeneCards(R) Tools for Characterization of Protein Biomarkers Associated With Neurological Conditions Bridging the gap in nanoantennas

(Date:6/19/2013)... the Midwest are expected to contribute to a very ... zone," according to a University of Michigan ecologist and ... one for the Chesapeake Bay. , The Gulf forecast, ... Atmospheric Administration, calls for an oxygen-depleted, or hypoxic, region ... place it among the 10 largest on record. , ...

(Date:6/19/2013)... Elsevier, a world-leading provider of scientific, technical and medical ... launch of a new open access journal, GeoResJ ... , Elsevier,s earth and planetary science journals portfolio has ... to provide a forum for rapid publication of top ... will be co-edited by six Executive Editors, each covering ...

(Date:6/18/2013)... Medicine have discovered a mechanism that is used to ... of blood typically associated with clotting, were discovered to ... it off from the rest of the body. The ... this week, provide the science community with a greater ... that platelets do participate in immunity, but now it,s ...

Breaking Biology News(10 mins):U-M researcher and colleagues predict possible record-setting Gulf of Mexico 'dead zone' 2 U-M researcher and colleagues predict possible record-setting Gulf of Mexico 'dead zone' 3 U-M researcher and colleagues predict possible record-setting Gulf of Mexico 'dead zone' 4 Immunity mechanism discovered 2

[0] U-M researcher and colleagues predict possible record-setting Gulf of Mexico 'dead zone'[0] Elsevier launches open access journal: GeoResJ [0] Immunity mechanism discovered

... Mutations in a single gene can cause several ... considered different disorders. With support from the National ... exome sequencing a new gene scanning technology that ... mutations. "This is going to change the way ...

... Iowa State University researchers will use grants of state ... test technology that can detect food contamination, design taller ... potential to grow the state,s economy. The state ... award 10 competitive grants totaling $942,389 from Iowa State,s ...

... Skeletal muscles combust both lipids and carbohydrates during ... the muscles as well as glucose extracted from the ... muscle represents an important model tissue for studying the ... This is important because it is known that ...

Cached Biology News:Gene scan finds link across array of childhood brain disorders 2 Gene scan finds link across array of childhood brain disorders 3 Iowa State awards grants to develop health, energy and research technologies 2 Iowa State awards grants to develop health, energy and research technologies 3 Iowa State awards grants to develop health, energy and research technologies 4 New molecular signaling cascade increases glucose uptake 2

Gene scan finds link across array of childhood brain disorders Iowa State awards grants to develop health, energy and research technologies New molecular signaling cascade increases glucose uptake

... fully automates pharmaceutical sample preparation tasks ... transfer, mixing and dilutions. Capabilities also ... The Prelude performs these functions in ... 11. The Prelude performs quantitative ...

... Staccato Custom Series Systems provide ... drug discovery, genomics, proteomics and drug ... built specifically to customer specifications, providing ... individual needs. Staccato Custom Systems ...

Comp Dim: chamber L W D 45 45 0.8 mm chamber maximum volume 1500 μL...

... binding) polystyrene surface is hydrophobic in ... interactions,• Is suitable primarily for the ... antibodies, that have large hydrophobic regions ... Binding capacity of approximately 250 ng ...

Biology Products:

Prelude Workstation from Caliper Life Sciences Staccato Custom Series from Caliper Life Sciences Secure-Seal hybridization chambers from Sigma-Aldrich CORNING 96 WELL PLATE, EIA/RIA, PS, ROUND BOTTOM, HIGH BINDING, NON STERILE from Sigma-Aldrich