Fortress Energy Inc.
TSX : FEI

Fortress Energy Inc.

November 19, 2007 00:01 ET

Fortress Energy Inc. Announces the Issuance of Flow-Through Common Shares

CALGARY, ALBERTA--(Marketwire - Nov. 19, 2007) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Fortress Energy Inc. ("Fortress" or "the Company") (TSX:FEI) is pleased to announce that it intends to complete a Public Offering of up to 2,703,000 Flow-Through Common Shares at a price of $1.85 per Share by way of a Short-Form Prospectus for gross proceeds of up to $5,000,550.

A syndicate led by Canaccord Capital Corporation including Acumen Capital Finance Partners Limited has agreed to act as Agents on a best efforts basis for the transaction. The transaction is expected to close December 6, 2007 and is subject to completion of documentation and receipt of applicable regulatory approvals, including approval of the TSX.

The Company plans to use the proceeds from the sale of the flow-through shares on expenditures, which will constitute Canadian Exploration Expenses (as defined in the Income Tax Act). Fortress has approximately $75 million of tax pools available to shelter future income.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the U.S. Securities Act of 1933.

We seek Safe Harbor.

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