ERIE, PA--(Marketwired - Feb 26, 2014) - Fortitude Group Inc. (
"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."
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.