BUZZ-Fortress Paper Ltd: To sell unit

Tue Aug 26, 2014 10:30am EDT
 
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** Pulp and paper producer's shares up 7.7 pct at C$2.25

** To sell unit Fortress Optical Features Ltd and some shareholder loans for C$17.5 mln to Nanotech Security Corp

** Price comprises C$7 mln cash, a C$3 mln secured note, and 5 mln Nanotech shares at a deemed price of C$1.50 each

** Trading in Nanotech Security Corp shares halted since before the announcement; stock closed at C$1.60 Monday

** Fortress Optical to continue to supply optically variable thin film, a material used in some Canadian banknotes, to Fortress Paper