August 10, 2009 (FinancialWire) — Generex Biotechnology Corp. (NASDAQ: GNBT) (www.generex.com) has consummated a registered direct offering of 8,558,013 shares of its common stock to a select group of accredited investors at $0.6602 per share.

In addition, the company issued to the investors warrants to acquire up to 2,995,305 shares of the company’s common stock at $0.79 per share. The warrants are exercisable for a period of five years commencing 183 days after the closing date. The offering resulted in gross proceeds of $5,650,000 and, after deducting placement agent’s fees and estimated offering expenses, the company received net proceeds of approximately $5,336,000. Midtown Partners & Co., LLC served as placement agent for the offering.

The shares were offered by Generex pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission on February 23, 2007.

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