SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report: May 21, 1998
GENETIC VECTORS, INC.
(Exact name of registrant as specified in its charter)
Florida 0-21739 65-0324710
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
5201 N.W. 77th Avenue, Suite 100, Miami, Florida 33166
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (305) 716-0000
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ITEM 5. OTHER EVENTS.
On May 18, 1998, Genetic Vectors, Inc. (the "Company") issued a press
release announcing that it had agreed in principle to acquire all of the stock
of Gen Trak, Inc. whereby Gen Trak, Inc. will become a wholly-owned subsidiary
of the Company. The agreement is conditioned upon the parties entering into a
definitive agreement. Upon the consummation of the transaction, the stockholders
of Gen Trak, Inc. will receive 350,000 shares of common stock of the Company.
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EXHIBIT INDEX
Exhibit
No. Description
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99(i) Press Release, dated May 13, 1998
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENETIC VECTORS, INC.
Date: May 21, 1998 By: /s/ Mead M. Mccabe, Jr.
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Name: Mead M. McCabe, Jr.
Its: President
EXHIBIT 99(i)
GENETIC VECTORS, INC.
5201 N.W. 77th Avenue. Suite 100
Miami, Florida 33166
NEWS RELEASE
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FOR IMMEDIATE RELEASE: FOR MORE INFORMATION, CONTACT:
May 18, 1998 Mead M. McCabe, Jr., President
(305) 716-0000
Jim Drewitz, Investor Relations
(817) 430-3131
GENETIC VECTORS, INC.
SIGNS A LETTER OF INTENT
TO ACQUIRE STOCK OF GEN TRAK, INC.
Gen Trak, Inc. will become a wholly-owned subsidiary of Genetic Vectors, Inc.
May 18, 1998, Miami, Florida - Genetic Vectors, Inc. (OTCBB Symbol: "GVEC")
announces it has agreed in principle to acquire all of the stock of Gen Trak,
Inc., a Plymouth Meeting, Pennsylvania corporation. The agreement is conditioned
upon the parties entering into a definitive agreement.
Gen Trak, Inc. is a privately held medical products company engaged in
developing new diagnostic and prognostic tools for the emerging market of
physician office diagnostics. Gen Trak currently manufactures, markets and
distributes health care test kits for immunologic and genetic testing.
Mead M. McCabe, Jr., President of Genetic Vectors said, "We believe the pending
acquisition of Gen Trak will be the kind of synergy that will elevate Genetic
Vectors to the next level, especially as we begin to introduce our own product
in the latter part of the year. Teaming up with Gen Trak will accelerate the
achievement of our growth objectives and help build shareholder value."
Genetic Vectors, Inc. is a development stage biotechnology company which intends
to specialize in the development of diagnostic and quality control tools for the
multi-billion dollar biopharmaceutical, food and fermented beverage industries,
including test kits for the detection of specific nucleic acids.
