GeneMax Corp. Announces Custody Only Common Share Transfer System
7/30/2002 11:50:00 AM
BLAINE, Wash., Jul 30, 2002 /PRNewswire-FirstCall via COMTEX/ -- Certificate Only Share Transfers: GENEMAX Corp. ("the Company") (GMXX) (GX1) announced today that the Company's By-laws have changed to ensure that the ownership of the Company's common shares must now be evidenced in certificate form under seal of the Company and signed by the President and Secretary of the Company. As a result, common shares of the Company shall, from this date forward, be transferred only within the provisions of "Certificate Only" or "Custody Only" status.
No certificates shall be printed or entered into the Company's books via its transfer agent in the names of either Cede & Co., Depository Trust Company, CDS & Co. or any other such type of depository for certificates; and certificates shall only be printed or entered into the Company's books in the name of the beneficial owner of the shares of the Company's stock. All certificates surrendered to the Company shall be cancelled and no new certificates shall be issued until the former certificate for the same number of shares shall have been surrendered or cancelled. No certificate shall be valid unless it is signed by the President and Secretary.
Effect of the New Share Transfer Policy to Shareholders: This change will not restrict or limit current or future shareholders from purchasing or selling shares in the normal method though the existing and established broker dealer network. As of the date of this news release, according to the Company's Transfer Agent, there are only 265,654 common shares that are free trading. The reason for this change is to ensure the integrity of bona fide GeneMax shareholders.
Become a Registered Shareholder: As a result of the Company's enhanced By-laws, current Company shareholders holding their shares in "street form" (shares owned by a client held by a brokerage in the name of Cede and Co. who is the Depository Trust Corporation's nominee) in their brokerage accounts are encouraged to become registered shareholders by ordering their street form shares to certificate form. As a registered shareholder the Company will be better able to provide shareholder communications relating to its business development and provide timely information. To become a registered shareholder, current shareholders may call their broker and ask them for delivery of their actual share certificates registered in their shareholder name. This process usually takes no longer than three weeks. If it takes longer, shareholders are encouraged to contact the Company directly.
About GeneMax: GeneMax is a biotechnology company specializing in the discovery and development of immunotherapeutics aimed at the treatment and eradication of cancer, and therapies for infectious diseases, autoimmune disorders and transplant tissue rejection.
GeneMax Corp. common stock is traded on the OTC Bulletin Board in the United States under the symbol GMXX and on the Frankfurt Stock Exchange under the symbol GX1.
SAFE HARBOR STATEMENT
THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT INTERESTS, THE COMPANY'S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN."
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SOURCE GeneMax Corp.
CONTACT: Marcus Johnson of GeneMax Corp., +1-866-872-0077, or
+1-360-332-7734, or fax, +1-360-332-1643
(GMXX)
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