SOURCE: Freedom Financial Holdings, Inc.

November 17, 2009 10:30 ET

Freedom Financial Holdings Narrows Focus

FORT WAYNE, IN--(Marketwire - November 17, 2009) - Freedom Financial Holdings, Inc. (PINKSHEETS: FDMF) CEO Brian Kistler announced today that effective immediately the Board of Directors has authorized the company to divest its ownership in the mortgage subsidiary so that going forward the company is able to focus all of its energy and resources into the energy sector.

Kistler stated, "This decision and announcement is bittersweet in nature. Freedom Financial Mortgage Corp was formed in 1997 and has been a viable company ever since. However, as the mortgage industry has gone through major changes, the cost of doing business is rising with added regulatory compliance. This (coupled with shrinking margins) has made it increasingly difficult to achieve a profitable business model."

Kistler continued, "The mortgage operations will be discontinued by December 31, 2009. Therefore, the sole focus of the company will be Freedom Energy International, Inc. and the exploitation of KC 9000™ on to the world market."

"The name and most likely the symbol of the company will be changing to reflect this narrowed focus into the energy sector. This will be done in the near future once we have returned from our travels to Kuwait and other Middle Eastern countries," concluded Kistler.

ABOUT FREEDOM FINANCIAL HOLDINGS, INC.:

Freedom Financial Holdings, Inc. is a holding company with a focus on the identification of opportunities. The Company's objective is to acquire undervalued assets and/or initiate operations in underserved niches. Once established within the FDMF portfolio, the Holding Company will provide the support necessary to enable each of its subsidiaries to maximize their business opportunities.

FORWARD-LOOKING STATEMENT

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information

  • Contact:
    Freedom Energy International, Inc.
    www.freedomenergyint.com
    Investor Relations
    David Elias
    DME Capital, LLC
    516-967-0205