GlobeNewswire Inc | Jan 18, 2022 08:00AM EST

January 18, 2022

Conover, North Carolina, Jan. 18, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Fortran Corporation (OTC: FRTN), a telecommunications technology systems integrator, is pleased to announce that it has completed the acquisition of 100% of the ownership interest of M & B Communication, LLC located in Conover, North Carolina. M & B will continue to operate as a wholly owned subsidiary of Fortran Corporation and will join B and L Telephone and Fortran Communications, Fortrans other current operating companies, to provide innovative technology solutions in North and South Carolina.

About Fortran Corporation:Fortran Corporation is a telecommunications system integrator dedicated to designing, implementing and maintaining complex communications solutions. Fortran is comprised of engineering and design, network service, sales, remote monitoring, and on-site services.

For more information contact us at: info@fortrancorp.com. Visit us atwww.fortrancorp.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

Statements and information contained in this communication that refer to or include Fortrans estimated or anticipated future results or other non-historical expressions of fact are forward-looking statements that reflect Fortrans current perspective of existing trends and information as of the date of the communication. Forward looking statements generally will be accompanied by words such as anticipate, believe, plan, could, should, estimate, expect, forecast, outlook, guidance, intend, may, might, will, possible, potential, predict, project, or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements that M & B will continue to operate as a wholly owned subsidiary of Fortran Corporation and that M & B will join B and L Telephone and Fortran Communications, Fortrans other current operating companies, to provide innovative technology solutions in North and South Carolina. It is important to note that Fortrans plans, objectives, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Fortrans current expectations depending upon a number of factors affecting Fortrans business. Factors that could cause or contribute to such differences include, but are not limited to, fluctuation in operating results, the ability of Fortran to compete successfully and other events. These factors also include, among others, the risks associated with the COVID-19 pandemic and related public health measures on its business, customers, markets and the worldwide economy; the inherent uncertainty associated with financial and other projections; the anticipated size of the markets and continued demand for Fortrans products; the impact of competitive products and pricing; changes in generally accepted accounting principles; successful compliance with governmental regulations applicable to Fortrans facilities, products and/or businesses; changes in laws, regulations and governmental policies; the loss of key senior management or staff; and other events, factors and risks previously and from time to time disclosed in Fortran Corporations filings with the OTC Markets Group Inc. including, specifically, those factors set forth in any Risk Factors" section in such filings.

Glenn Withers 828-324-4611 Gwithers@fortrancorp.com