Fortress Paper

Fortress Bioenergy received $3.4 million in restricted cash Fortress Global Enterprises Inc. announces that its wholly owned subsidiary, Fortress Bioenergy Ltd., has received from its senior lender, IAM Infrastructure Private Debt Fund LP, $3.4 million in restricted cash previously held in a debt service reserve account. These funds will be used to secure additional wood fibre inventory for the Fortress Specialty Cellulose mill.

Fortress Global reported 4Q 2018 operating EBITDA from continuing operations of $4.2 million Fortress Global Enterprises Inc. reported 4Q 2018 operating EBITDA from continuing operations of $4.2 million compared to operating EBITDA from continuing operations of $7.5 million in the previous quarter and operating EBITDA loss from continuing operations of $5.7 million in the prior year comparative period.

Fortress secures federal government support for planned bioproducts demonstration plant Fortress Global Enterprises Inc. announced that its wholly-owned subsidiary, Fortress Xylitol Inc., has entered into a definitive contribution agreement with Natural Resources Canada (“NRCan”) whereby NRCan has committed $10 million in contribution funding to support the planned construction of a xylitol and complementary bioproducts demonstration plant at Fortress’ dissolving pulp mill in Thurso, Québec.

Fortress Global licenses Mondelēz xylitol technology Fortress Global Enterprises Inc. has entered, through its wholly owned subsidiary, Fortress Advanced Bioproducts Inc. ("Fortress AB"), into a Technology License and Collaboration Agreement with Mondelēz International, Inc., one of the world’s largest snacking companies.

Fortress Global's 3Q sales increased to $48.7 million Fortress Global Enterprises Inc. reported 3Q 2018 operating EBITDA from continuing operations of $7.5 million compared to operating EBITDA from continuing operations of $2.7 million in the previous quarter and operating EBITDA loss from continuing operations of $1.6 million in the prior year comparative period.