Genesis Bioventures files secondary registration statement
NEW YORK, June 2 /PRNewswire-FirstCall/ -- Genesis Bioventures, Inc. (AMEX:GBI), today announced that the Company has filed a secondary registration
statement relating to the re-sale of certain shares of the Company's common
stock. The registration statement includes a preliminary prospectus. None of
the shares may be sold prior to the effectivity of a final prospectus. Such
effectivity remains subject to the filing made with the Securities and Exchange
Commission, which describes the proposed offering.
The offering contemplates the potential re-sale of 2,631,579 shares of the
Company's common stock directly owned by certain selling shareholders,
5,787,500 shares of common stock underlying shares of recently issued senior
convertible notes, and 3,039,568 shares of common stock issuable upon the
exercise of certain warrants.
The Company will not receive any of the proceeds from the sale of the shares
other than the exercise price, if any, received upon exercise of the warrants. GBI previously announced and had entered into a merger agreement with Corgenix
Medical Corporation (Corgenix) (OTCBB:CONX). The parties are seeking to
consummate the merger transaction on or about August 31, 2004. The merger is
subject to, among other conditions, approval of the shareholders of each of GBI
and Corgenix. Approval of the merger is subject to solicitation of the
shareholders consent by filed proxy material. This release does not constitute
a part of such proxy material.
About Genesis Bioventures Genesis Bioventures, Inc. (GBI) is a biomedical development corporation
focusing on the development and marketing of novel diagnostics. The Company's
wholly owned subsidiary, Biomedical Diagnostics, LLC, specializes in the
development of cancer diagnostics with its first product being the MSA as a
screen for breast cancer risk. In addition, the Company has equity interest in
Prion Developmental Laboratories, Inc., which specializes in the development of
diagnostic tests to detect prion disease.
About Corgenix Corgenix is a leader in the development and manufacturing of anti- Phospholipid
test kits, being the first on the market with an FDA cleared assay for
anti-Cardiolipin (aCL), and is still the only manufacturer of both an FDA
cleared anti-Phosphatidylserine (aPS) and an anti-Prothrombin (aPT) test kit. Corgenix is based in metropolitan Denver and its primary area of focus is
providing state-of-the-art products for the serologic diagnosis and management
of cardiovascular disease, vascular biology, liver disease and autoimmune
disorders. Corgenix diagnostic products are commercialized for use in clinical
laboratories throughout the world.
"Safe Harbor" Statement Under The Private Securities Litigation Reform Act of
1995: Any statements in this press release that relate to the Company's
expectations are forward-looking statements, within the meaning of the Private
Securities Litigation Reform Act of 1995. Since this information may involve
risks and uncertainties and are subject to change at any time, the Company's
actual results may differ materially from expected results. Additional risks
associated with Genesis Bioventures' business can be found in its periodic
filings with the SEC.
CONTACT:
GBI Investor Relations, (604) 542-0820, , http://www.gnsbio.com/
Aurelius Consulting Group, 800-644-6297, ,
http://www.runonideas.com/
de Jong & Associates, (760) 943-9065, , http://www.dejong.org/ DATASOURCE: Genesis Bioventures, Inc.
CONTACT: GBI Investor Relations, (604) 542-0820, , http://www.gnsbio.com/; Aurelius Consulting Group, 800-644-6297, , http://www.runonideas.com/; de Jong & Associates, (760) 943-9065, , http://www.dejong.org/
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