Fortress Global Enterprises Announces Acquisition of S2G Biochemicals Inc. and New Xylitol Project
Fortress Global Enterprises Inc. is pleased to announce that it has signed a share purchase agreement (the "SPA") with S2G Biochemicals Inc. ("S2G") and its shareholders, whereby the Company will acquire all of the issued and outstanding common shares of S2G for a purchase price of $2,500,000, payable by the issuance of 666,652 common shares of the Company at a deemed price of $3.75 per Fortress Global share. Upon completion of the transaction, Fortress Global, intends to commission the construction of a demonstration plant to produce xylitol at its Fortress Specialty Cellulose (“FSC”) Mill, utilizing proprietary process technologies, know-how and expertise developed by S2G and Mondelez International, Inc. Xylitol is a naturally occurring sugar polyol that has a sweetening property matching that of cane sugar but with 40% fewer calories. In addition, based on third-party research, the Company believes that xylitol is currently the best nutritive sugar substitute with respect to the prevention of dental cavities. Click Read More below for additional information.