Fortitude Group, Inc. (OTC: FRTD) Announces Stock Repurchase Plan
February 26 2014 - 8:35AM
Marketwired
Fortitude Group, Inc. (OTC: FRTD) Announces Stock Repurchase Plan
ERIE, PA--(Marketwired - Feb 26, 2014) - Fortitude Group Inc.
(OTC: FRTD) CEO Thomas J. Parilla today announced that its Board of
Directors on February 25, 2014 adopted a corporate resolution to
authorize a stock repurchase plan pursuant to which Fortitude
Group, Inc. may repurchase up to 100,000,000 (100 Million) shares
of its common stock.
"Fortitude is committed to maximizing shareholder value. The
company's recent entry into the Medical Marijuana sector and the
quickly improving financial outlook for Fortitude gives management
the opportunity to repurchase common stock. This action will
demonstrate our commitment to this goal," Mr. Parilla stated.
The stock repurchase program has a flexible design allowing for
repurchases to be made in the open market at prevailing market
prices or in privately negotiated transactions if warranted; in
accordance with all applicable securities laws and regulations.
Ultimately we will achieve our intended goal to make appropriate
adjustments to the Company's capital structure, further increasing
shareholder value. Repurchasing of stock will be made at the
discretion of Fortitude Group, Inc. management according to the
programs guidelines.
In addition Mr. Parilla went on to say, "In response to several
inquiries received FRTD does not have 504 or any toxic financing in
place, and no plans to employ such methods."
About Fortitude Group, Inc. is a diversified company with
investments in multiple sectors of the economy targeting joint
ventures, wholly owned subsidiaries and/or majority/minority
positions that cross various market segments with the goal of
creating a quality company that builds intrinsic value for its
shareholders.
Forward Looking Statements This press release contains
forward-looking statements. Such forward-looking statements are
subject to a number of risks, assumptions and uncertainties that
could cause the Company's actual results to differ materially from
those projected in such statements. Forward-looking statements
speak only as of the date made and are not guarantees of future
performance. We undertake no obligation to publicly revise any
forward-looking statements.
Contact Fortitude Group, Inc. Investor Relations Phone:
888-531-4931 Email: infofrtd@gmail.com
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