BRENTWOOD, Tenn., May 23, 2017 /PRNewswire/ -- Orchids Paper
Products Company (NYSE MKT: TIS) -- The Company confirms that a
member of its Board of Directors, Mario
Armando Garcia Franco, sold 215,000 shares of Orchids' stock
into the market between May
12th and May
22nd of 2017, inclusive. Mr. Garcia stated on
May 23, 2017, "I have completed the
sale of all of the shares I intend to sell. My reasons for selling
were personal. I remain committed to the long-term success of
Orchids, and I believe in the Company's future success." Mr. Garcia
retains 686,083 shares as of this date, all of which are restricted
through June of 2024. In addition, officers and other directors of
the Company filed Form 4's for the aggregate purchase of 39,100
shares during the past few weeks.
Forward-Looking Statements
This release contains forward-looking statements that involve
certain contingencies and uncertainties. The Company intends
these forward-looking statements to be covered by the safe harbor
provision for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. These statements
relate to future events or future financial performance, and
involve known and unknown risks, uncertainties and other factors
that may cause its actual results, levels of activity, performance
or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by such forward-looking statements. In some cases,
forward-looking statements can be identified by terminology such as
"may," "should," "could," "expects," "plans," "intends,"
"anticipates," "believes," "estimates," "predicts," "potential,"
"will" or "continue" or the negative of such terms or other
comparable terminology. Although the Company believes that
the expectations reflected in the forward-looking statements are
reasonable, it cannot guarantee future results, levels of activity,
performance or achievements. These statements are only
predictions.
Factors that could materially affect the Company's actual
results, levels of activity, performance or achievements include,
without limitation, those detailed under the caption "Risk Factors"
in the Company's Annual Report on Form 10-K for the year ended
December 31, 2016, as filed with the
Securities and Exchange Commission on March
15, 2017.
The Company's actual results may be materially different from
what it expects. The Company does not undertake any duty to
update these forward-looking statements after the date hereof, even
though the Company's situation may change in the future. All
of the forward-looking statements herein are qualified by these
cautionary statements.
About Orchids Paper Products Company
Orchids Paper Products Company is a customer-focused, national
supplier of high quality consumer tissue products primarily serving
the at home private label consumer market. The Company
produces a full line of tissue products, including paper towels,
bathroom tissue and paper napkins, to serve the value through
ultra-premium quality market segments from its operations in
northeast Oklahoma, Barnwell, South Carolina and Mexicali, Mexico. The Company provides these
products primarily to retail chains throughout the United
States. For more information on the Company and its products,
visit the Company's website at http://www.orchidspaper.com.
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SOURCE Orchids Paper Products Company