Forterus Announces Historic Day for Company
January 27 2010 - 4:02PM
PR Newswire (US)
MURRIETA, Calif., Jan. 27 /PRNewswire-FirstCall/ -- On January 27,
2010, Forterus, Inc. (Pink Sheets: FTER), announced that it is has
executed a management services agreement for a licensed facility in
downtown San Diego. The facility is licensed by the State of
California and already has a conditional use permit from the county
of San Diego for 36 beds. This represents an increase of 35% in
Forterus's overall capacity. Paul Howarth, Forterus's CEO, stated,
"This is a historic day for our Company. This agreement represents
the beginning of a process of transition into a facility-based
organization, which will increase Forterus's overall value. Our
executives have worked tirelessly to complete this transaction
ahead of schedule in order to meet the increase in demand. Having a
facility in the downtown area of a major city represents a
significant growth marker for us. This facility represents the
first step towards our goal of becoming the largest private drug
and alcohol treatment provider in California. This increase in
capacity is our largest increase in the history of the Company. The
Company is currently operating at 100% capacity with a significant
number of people beginning their treatment in the coming days." The
management services agreement will remain in place until the
licenses can transferred into Forterus's name. A real estate lease
is attached with the management services agreement. Once the
Company terminates the management services agreement, Forterus's
lease of the property becomes effective. This process is expected
to take six to nine months before the licenses will be transferred.
The management services agreement takes effect February 1, 2010.
About Forterus, Inc. Forterus, Inc. and its subsidiaries engage in
diverse business activities, including drug and alcohol
rehabilitation, and finance. For more information Forterus and A
Better Tomorrow, please visit their respective websites at
http://www.forterushealthcare.com/ and http://www.abttc.com/.
Forward Looking Statements Application of the Safe Harbor of the
Private Securities Litigation Reform Act of 1995: This press
release contains, and Forterus may from time to time make, written
or oral 'forward-looking statements' within the meaning of the U.S.
federal securities laws, which are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
All forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties and other factors, many of which are outside
Forterus's and/or its subsidiaries control that could cause actual
results to differ materially from such statements. In particular,
statements using words such as 'may,' 'should,' 'estimate,'
'expect,' 'anticipate,' 'intend,' 'believe,' 'predict,'
'potential,' or words of similar import generally involve
forward-looking statements. Contact: Paul Howarth, CEO, Forterus
Inc. (888) 257-8345 DATASOURCE: Forterus, Inc. CONTACT: Paul
Howarth, CEO of Forterus Inc., 1-888-257-8345, Web Site:
http://www.forterushealthcare.com/
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