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Microcap & Penny Stocks : RECEPTAGEN---RCEPF

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To: Lance who wrote (206)	5/17/1997 6:17:00 PM
From: Max Reydman	of 267

NEWS Release: InterUnion Financial Corp considering Generex merge proposal Receptagen Ltd RCG Shares issued 18634736 1997-05-15 close $0.4 Thursday May 15 1997 News Release An anonymous director of Generex Pharmaceuticals reports Generex Pharmaceuticals Inc has made a proposal to InterUnion Financial Corp to merge with Receptagen Ltd. Court approval was granted on April 30 1997 of a bridge loan and debt restructuring of Receptagen pursuant to which InterUnion became a controlling shareholder. InterUnion has stated that it is prepared, with the co-operation of the board of directors of Receptagen, to consider Generex's proposal, subject to a number of conditions being met prior to May 19 1997. Generex also has completed a $3 million special warrant financing through Credifinance Securities Inc. (c) Copyright 1997 Canjex Publishing Ltd. Max

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