Fortitude Group, Inc. Submits Special Share Issuance Certificate to Transfer Agent
ERIE, PA--(Marketwired - Apr 10, 2014) - Fortitude Group, Inc. (OTC: FRTD) announced today that on April 5, 2014, the company received 9,250,000 shares of Affinity Mediaworks Corp. (OTCQB: AFFW) and has submitted the certificate to the Affinity transfer agent to have the shares re-issued and forwarded to bona fide Fortitude shareholders of record, as of the calendar date: March 14, 2014 at 6:00pm EDT.
As previously announced, 9,250,000 shares of Affinity Mediaworks Corp., which represents approximately 14% of the to-be-issued and outstanding stock of Affinity Mediaworks, are being issued as a Special Share Issuance to bona fide shareholders of record of Fortitude Group, Inc. This issuance has been calculated that for every 92 FRTD shares beneficially owned by a Fortitude shareholder, they shall be entitled to receive 1 new additional share of Affinity Mediaworks. Affinity Mediaworks is set to invest $4,000,000 for a 45% in PRIMARQ in April 2014. Based on preliminary pro-forma numbers, while still a pre-revenue company, within 90-days of funding, PRIMARQ is projecting gross revenue of over $200 million per year. Currently, Affinity has raised the $4,000,000 necessary to complete this investment and under the terms of the funding agreement, the investment capital can only be released to
PRIMARQ upon verification that the Fortitude shareholders have received their AFFW Special Share Issuance certificates.