Cobalis Corp. to Require Mandatory Share Certificate Exchange IRVINE, Calif., Aug. 23 /PRNewswire-FirstCall/ -- Cobalis Corp. (OTC:CBSC) (BULLETIN BOARD: CBSC) , a pharmaceutical company specializing in the development of anti-allergy medications, announced today that the Company will require effective August 27, 2004 a mandatory share certificate exchange. (OTC:CBSC) (BULLETIN BOARD: CBSC) . This mandatory certificate exchange is being done to ensure the security of all legitimate shareholders of the Company. Additionally, the Company announced that is now requiring that each new common stock certificate specify and include the name of the beneficial owner. MANDATORY SHARE EXCHANGE On July 6, 2004, the Company changed its name from BioGentech Corp. (OTC:BGTH) (BULLETIN BOARD: BGTH) to Cobalis Corp. The Company is hereby requiring that all persons in possession of stock certificates in the name of BioGentech Corp. with the CUSIP number 09063N104 and certificates in the name of Cobalis Corp. with the CUSIP number 19074Y106, effective August 27, 2004 exchange those certificates for new certificates in the name of Cobalis Corp. with the CUSIP number 19074Y205. This exchange will be a one-for-one with the stipulations that (a) old stock certificates, with the old company name and old CUSIP numbers, will be void, shall not entitle the certificate holder to any of the rights of a shareholder or the Company, and shall be worthless, non-transferable and non- tradable in any public or private market or exchange beginning October 12, 2004, which is forty-five (45) days after August 27, 2004, and shall have no value except for the right to be exchanged for the new stock certificates; and (b) physical exchange of the old stock certificates must be made exclusively by and through the Company's stock transfer agent, Pacific Stock Transfer Company, 500 E. Warm Springs Road, Suite 240, Las Vegas, NV 89119 Tel: 702-361-3033 Fax: 702-433-1979. Persons who hold their shares in brokerage accounts or "street name" are not required to take any further actions to effect the exchange of their certificates, unless their broker instructs them otherwise. However, the Company requires that each new certificate representing shares of common stock in the Company specify and include the name of the beneficial owner of such shares and be mailed directly to that beneficial holder. No new certificate(s) will be issued to a shareholder until the shareholder has surrendered his or her old stock certificate(s) to the transfer agent. Until surrendered, each old stock certificate will represent the right to exchange for a certificate bearing the name of Cobalis Corp. with the CUSIP number 19074Y205, only. Stockholders should not destroy any stock certificate. STOCK CERTIFICATE EXCHANGE PROCEDURE FOR STOCKHOLDERS Stockholders who have in their possession paper stock certificates should read and carefully complete the Letter of Transmittal, which is available online at http://www.cobalis.com/share_exchange.htm. This letter is also available by fax or U.S. Mail by calling 949-757-0001. The completed Letter of Transmittal along with the stock certificate(s), should be mailed or otherwise delivered to the Company's transfer/exchange agent, Pacific Stock Transfer Company, 500 E. Warm Springs Road, Suite 240, Las Vegas, NV 89119 Tel: 702- 361-3033, Fax: 702-433-1979. The method of delivery is at stockholders' option and risk, but, if mail is used, registered insured mail, return receipt requested, is suggested. If you send your current certificate(s) before or on October 11, 2004, the Company will cover the fee of issuing a new certificate(s). After October 11, 2004, you should send a check made out to Pacific Stock Transfer Company in the amount of $20.00 per certificate requested. Note that there is no need to, and nor should, stockholders endorse the back of the stock certificate. Stockholders who hold their shares in street name with a broker are urged to immediately confirm with their broker that the broker is including their name on the list of beneficial owners being submitted to the Company's transfer agent. These stockholders will not be required to take any further action, unless their broker instructs them otherwise. The Company urges stockholders to make all requests in writing to their broker and keep a record of all communication. PROCEDURE FOR SHAREHOLDERS EXPERIENCING PROBLEMS WITH THEIR BROKERAGE RELATING TO COBALIS' STOCK Shareholders are advised to have all Cobalis-related communication with their brokers in writing. Written correspondence is the only proof of what is communicated between brokers and shareholders. If shareholders experience problems with their brokerage related to Cobalis' stock, they should submit an explanation of the problem along with copies of their written correspondence regarding the matter directly to the Company by email to , by fax to 949-757-0979, or US mail to Cobalis Corp., 2445 McCabe Way, Suite 150, Irvine, CA 92614. The Company can only attempt to assist those who provide copies of written correspondence. CERTIFICATE EXCHANGE PROCEDURE FOR BROKERAGES In conjunction with NASDAQ Uniform Practice Advisory UPC # 015-2004, the Company advises broker dealers with customers that hold BioGentech Corp. stock with the CUSIP number 09063N104 and Cobalis Corp. stock with the CUSIP number 19074Y106, to promptly request from the Depository Trust Company (DTC) stock certificates representing the number of shares, which reflect their ownership position, and to submit the certificates along with the beneficial owner information, as described in the Letter of Transmittal. Broker dealers should contact DTC directly for instructions on withdrawing their position. The number of shares represented by the certificates and delivered to the transfer agent must match exactly the number of shares held by the beneficial owners, or this will delay processing. PROCEDURE FOR BROKERAGES WHO HAVE QUESTIONS OR ARE EXPERIENCING PROBLEMS RELATING TO TRADING COBALIS' STOCK Brokers are advised to submit in writing a detailed explanation of the problem or questions they have related to Cobalis' stock directly to the company by email to , by fax to 949-757-0979 or US mail to Cobalis Corp., 2445 McCabe Way, Suite 150, Irvine, CA 92614. The Company can only attempt to assist those who provide written correspondence. ABOUT COBALIS CORP. - PREHISTIN(TM) Headquartered in Irvine, California, Cobalis Corp. is an over-the-counter pharmaceutical company. Its flagship product, PreHistin, designed to prevent the primary cause of airborne allergies, is scheduled for Phase III clinical trials in late 2004 and initial marketing in the U.S. will commence upon final FDA marketing approval. The U.S. anti-allergy medication market was $7.2 billion in 2003 and is expected to exceed $10 billion by 2010. PreHistin, "the world's first pre-histamine," has shown in previous clinical studies to modulate the body's level of the protein IgE, reducing the overproduction of histamines, the primary cause of airborne allergy symptoms. Prior studies have shown that the active ingredient in PreHistin appears to have essentially no risks of adverse effects to the general population, including sedation and drowsiness found in many of the allergy products currently available. For further information please visit the website at http://www.cobalis.com/. SAFE HARBOR Certain statements contained in this news release are considered "forward- looking" statements (as defined in the Private Securities Litigation Reform Act of 1995). Because these statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward- looking statements. These forward-looking statements reflect Cobalis Corp's current views about future events. They are identified by their use of terms and phrases such as "believe", "expect", "plan", "anticipate", "possibility" and similar expressions identifying their forward-looking character. Investors should not rely on these forward-looking statements as assurances of future events, because such statements are inherently subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from the Company's expectations. Specifically, factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: risks associated with preclinical and clinical developments in the biopharmaceutical industry in general and in Cobalis Corp's compounds under development in particular; the potential failure of Cobalis Corp's compounds under development to prove safe and effective for treatment of disease; uncertainties inherent in the early stage of Cobalis Corp's compounds under development, failure to successfully implement or complete clinical trials; failure to receive marketing clearance from regulatory agencies for our compounds under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Cobalis Corp's business, structure or projections; the development of competing products; uncertainties related to Cobalis Corp's business, structure or projections; the development of competing products; uncertainties related to Cobalis Corp's dependence on third parties and partners; and those risks described in the filings with the SEC, all of which are under the Company's prior name BioGentech Corp. Cobalis Corp. disclaims any obligation to update these forward-looking statements. DATASOURCE: Cobalis Corp. CONTACT: Chaslav Radovich, President & CEO of Cobalis Corp., +1-949-757-0001, or fax, +1-949-757-0979, or Web site: http://www.cobalis.com/ http://www.cobalis.com/share_exchange.htm

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