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Micro-Cap in News; Forum National Investments Ltd. (FMNL)

By Warren Paige

Forum National Investments Ltd. (OTC: FMNL) shares are gaining momentum in trading today after the company announced the launch of its Canadian financial product.

At last check, FMNL shares were trading 6.25% higher at $1.19 on above average volume of 452,389. The stock gained nearly 30% in the last three trading sessions.

Forum National said that it is planning to begin the sale of its Canadian Financial bond offering securitized by senior U.S. life settlements. The financial product is an industry first, the company said.

The product is being targeted at retail investors, who are looking for an uncorrelated alternative investment opportunity. FMNL said that life settlements do not have correlation to stock market fluctuations or downturns in the economy.

FMNL said that the first bond offering will be for $9 million in death benefits. The bond will be marketed at an initial 85% discount to face value.

 

June 12th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.