Fortress Global Enterprises Inc - Class A FTPLF

RE: RE: Insider Buys $1.82Million of Fortress

[OptsyEagle]

I also suspect that it is Irwin Michaels of ABC funds and I would also suspect that he is in regular conversation with Chad Wasilenkoff.  I am pretty sure Chad would not disclose confidential details of any new acquisitions, but I would bet Irwin could garner from the talks, the generic details of whether it will end up as a good deal for Fortress or not.  Remember, Irwin Michaels has already stated that he was planning on disposing of some FTP shares to reduce some single stock exposure for his investors.  For him to turn around and start buying again, certainly signals new confidence.

As for corporate insiders.  Chad has already, on many occasions, disclosed that he is in the process of acquiring new capacity and that he is going to ensure that it is very, very profitable for FTP.  So I don't think management, buying before the acquisition take place, is going to be viewed as insider trading, as long as it doesn't go beyond those points I mentioned.

The trade indicated is a little early for SEDI disclosures.  The TSX is just listing all trades that are tagged as an "insider" account.  The actual insider has quite a few days to make a disclosure and if it is a mutual fund, they will wait until the very last minute.