TNI BioTech, Inc. Cancels Proposed Reverse Split of its Common Stock

ORLANDO, Fla., June 24, 2014 /PRNewswire/ -- TNI BioTech, Inc. TNIB +7.35% ("TNI" or the "Company") a biotechnology company pioneering the development of innovative therapies for autoimmune diseases by combating these fatal diseases through the activation and modulation of the body's immune system, announced today that its Board of Directors had passed a resolution cancelling the previously announced 9:10 reverse split of its common stock, as per the 14A Information Statement filed with the Securities and Exchange Commission on June 18, 2014, and accordingly will notify all appropriate regulatory authorities that the reverse split is withdrawn.

Noreen Griffin, President and CEO, said, "We have become increasingly aware that putting into effect the 9:10 reverse split of our common stock has had a mixed reaction from our shareholders. Therefore, the Board of Directors has decided that, for the benefit of our shareholders, we should cancel the reverse split and let the stock rise on its own merit while we continue to focus on increasing the value of our stock by the growth of our business."