GENEREX BIOTECHNOLOGY CORPORATION (OTCMKTS:GNBT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On Wednesday, April 03, 2019, Generex’s Board of Directors appointed two new independent interim directors, Omar Gzouli and Mark Prioletti to fill the vacancies of Kevin Centofanti and Gary Lyman, to become effective Monday, April 8, 2019.
Mr. Gzloui currently is a Partner and portfolio manager at a London based alternatives investments manager, and prior to that was a Managing Director at another investment bank in London. Generex feels Mr. Gzloui’s experience in financing would be a value added benefit to Generex in financing, and Mr. Gzouli is independent.
Mr. Prioletti was a senior manager for a fortune 500 company for 33 years with significant experience in developing, marketing and branding, and managing distribution networks of dealers distributors and resellers through the United States and Canada. Generex feels Mr. Prioletti’s experience in branding and distributions would be a value added benefit to its products, and Mr. Prioletti is independent.
On Monday, 1 April 2019, Kevin Centofanti resigned his position as a Generex Director. Mr. Centofanti was not on any committees of the Board of Directors and was not an employee of Generex.
Mr Centofanti is not currently asserting any material facts concerning the circumstances of Mr. Centofanti’s resignation. Mr. Centofanti has been shown this 8-K and agrees with the statements contained in this filing pertaining to Mr. Centofanti.
About GENEREX BIOTECHNOLOGY CORPORATION (OTCMKTS:GNBT)
Generex Biotechnology Corporation is a development-stage company. The Company is engaged primarily in the research and development of drug delivery systems and technologies. The Company is focused on its technology for the administration of formulations of large molecule drugs to the oral (buccal) cavity using a hand-held aerosol applicator. Its buccal delivery technology is a platform technology that has application to various large molecule drugs and provides a non-invasive way to administer such drugs. The Company focuses its development efforts on Generex Oral-lyn, an insulin formulation administered as a fine spray into the oral cavity using its hand-held aerosol spray applicator known as RapidMist. Its subsidiary, Antigen Express, Inc., focuses on developing vaccine formulations that work by stimulating the immune system to either attack offending agents, such as cancer cells, bacteria and viruses, or to stop attacking benign elements, such as self proteins and allergens.