March 1 (Reuters) - Fortress International Group Inc:
* Announces restructuring of original seller's note
* Says reduced the relevant principal and interest payments in 2010 from $2.78
to $0.32 million
* Says extended the terms to 2014
* Says final payment of all remaining amounts of principal and interest is due
April 1, 2014
* Says $1.0 million of the remaining $2.75 million will be paid in 8 quarterly
installments
* Says reducing relevant principal, interest payments in 2010 from $2.78 to
$0.32 million
* Says $1.25 million of the $4.0 million note to be converted to 625,000 shares
of common stock
* Says the interest rate is reduced from 6 pct to 4 pct
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Announces restructuring of original seller's note
* Says reduced the relevant principal and interest payments in 2010 from $2.78
to $0.32 million
* Says extended the terms to 2014
* Says final payment of all remaining amounts of principal and interest is due
April 1, 2014
* Says $1.0 million of the remaining $2.75 million will be paid in 8 quarterly
installments
* Says reducing relevant principal, interest payments in 2010 from $2.78 to
$0.32 million
* Says $1.25 million of the $4.0 million note to be converted to 625,000 shares
of common stock
* Says the interest rate is reduced from 6 pct to 4 pct
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.