Fortress Global Enterprises Reminds Debentureholders to Vote Before the Consent Fee Deadline
TSX: FGE
OTCQX: FTPLF
VANCOUVER, Sept. 20, 2018 /CNW/ - Fortress Global Enterprises Inc. ("Fortress Global" or the "Company") (TSX: FGE) (OTCQX: FTPLF) would like to remind holders (the "Debentureholders") of its 7.0% convertible unsecured subordinated debentures due December 31, 2019 (the "Debentures") (TSX: FGE.DB.A) that they have until 5:00 p.m. (Vancouver time) on Monday, September 24, 2018 (the "Consent Deadline") to vote in favour of the extraordinary resolution to approve the proposed Debenture amendments (the "Amendments") to be eligible to receive a consent fee equal to 2% of the principal amount of Debentures held by such Debentureholders as at the record date for the meeting of Debentureholders to be held on October 1, 2018 (the "Meeting").
Debentureholders that do not vote in favour of the Amendments by the Consent Deadline will not be eligible to receive the consent fee, but will be bound by the Amendments if they become effective.
INDEPENDENT PROXY ADVISOR RECOMMENDS A VOTE IN FAVOUR
Leading independent proxy advisory firm, Glass Lewis & Co., LLC, has recommended that Debentureholders vote FOR the Amendments at the Meeting.
INDEPENDENT FAIRNESS OPINION
Acumen Capital Finance Partners Limited has provided the special committee of the Company's board of directors with an independent opinion that, as of the date of such opinion, the Amendments are fair, from a financial point of view, to the Debentureholders.
BOARD OF DIRECTORS RECOMMENDS A VOTE IN FAVOUR
For the reasons described in the management information circular of Fortress Global in relation to the Meeting dated August 28, 2018 (the "Circular"), and summarized in the Company's news release dated August 28, 2018, the Company's board of directors UNANIMOUSLY RECOMMENDS that Debentureholders vote FOR the Amendments.
Further details regarding the consent fee and the Amendments can be found in the Circular, which is available under Fortress Global's profile on SEDAR at www.sedar.com. Detailed voting instructions are contained in the Circular and accompanying form of proxy or voting instruction form.
Debentureholder Questions
For more information, please contact:
Fortress Global Enterprises Inc.
604-904-2328 or [email protected]
- or -
Debentureholders may contact the Company's information and proxy solicitation agent, Laurel Hill Advisory Group, at:
North American Toll Free Number: 1-877-452-7184
Outside North America: 416-304-0211 (collect)
Email: [email protected]
About Fortress Global
Fortress Global operates its dissolving pulp business at the Fortress Specialty Cellulose Mill located in Canada. Fortress Global also operates in the renewable energy generation sector through the Fortress Specialty Cellulose Mill's cogeneration facility, and plans to establish a demonstration plant for the future production of xylitol and other bioproducts.
SOURCE Fortress Global Enterprises Inc.
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Fortress Global Enterprises Inc., 604-904-2328 or [email protected]
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