August 11, 2008 14:04 ET

Fortress Financial Group, Inc. -- Clarification on Outstanding Shares

Company Issues Clarification on Its "Free Float" and Its Outstanding Shares

NEW YORK, NY--(Marketwire - August 11, 2008) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) clarifies and simplifies its statements made in a Press Release earlier today in respect of free trading shares of Common Stock.

1. The Company has demonstrated that its outstanding "Free float" shares of Common Stock is accounted for.

2. The holders listed on the schedule that are filing Form 13(g)'s with the SEC are not sellers of the stock but long-term investors. They have indicated that they remain buyers of the Company's stock.

3. The Private Equity Group planning to acquire not less than 51% of the Company's outstanding Stock is very aware of these substantial stockholders and is attempting to acquire their stockholdings in the Company.

4. The Company has very clearly demonstrated that a short position may well exist based upon the numbers published today.

5. The Company is repurchasing stock in the Company and has acquired a large number of additional shares today at prices of US$0.0003 and at 0.0004 per share. The Company will announce the details of its repurchases in the morning.

6. The Press Release earlier today accounted for the 11,562,388,992 "free trading" shares repurchased by the Company to date.

About Fortress Financial Group, Inc.

Fortress Financial Group, Inc. was primarily engaged in the issuing and marketing of prepaid debit card and related payment solution activities. Through the closure of the Trinity Mercantile Finance Group and the Mortgage Bank acquisitions, Fortress Financial Group, Inc. is now expediting its plans to become a broadly based Consumer Finance Group. The "Mortgage and Consumer Lending Divisions" will comprise the vast majority of the Group's earnings in the immediate to medium term.

The Company is utilizing is substantial Balance Sheet of circa US$100 million comprised of quoted and unquoted Gold Mining & Exploration stocks (This is after the payment of the Extraordinary Dividend of US$400 million to stockholders) to aggressively fund a large number of acquisitions in the consumer financial services sector; initially focused in the Mortgage Lending and Banking sectors.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such a "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

Contact Information

  • Contact:

    Fortress Financial Group, Inc.
    Alan Santini
    Chief Executive Officer

    Email Contact

    Tel: (954) 840-6961