SOURCE: First Platinum Retail Innovations, Inc.

February 20, 2009 09:34 ET

First Platinum Retail Innovations, Inc. -- Acquisitions

Company Confirms Agreements to Acquire the "Bouse" and "South Copperstone" Gold Mining Properties

NEW YORK, NY--(Marketwire - February 20, 2009) - First Platinum Retail Innovations, Inc. (PINKSHEETS: FPRT) confirms that it has entered into a Binding Agreement to acquire the "Bouse" and "South Copperstone" Gold Mining properties.

These properties are being acquired through the issue of 222,200,000 restricted shares of the Company's Common Stock at a price of US$12.50 per share of Hurasu Resource Corporation Common Stock. The amount of 167,200,000 restricted shares of the Company's Common Stock is being issued to acquire the "Bouse" Gold property and an amount of 55,000,000 restricted shares of the Company's Common Stock is being issued to acquire the "South Copperstone" Gold property

The largest single stockholder in both the "Bouse" and "South Copperstone" Gold properties is Western Diversified Mining Resources, Inc., a wholly owned subsidiary Company of Fortress Financial Group, Inc. (PINKSHEETS: FFGO).

An amount of 25,760,225 restricted shares of the Company's shares is being issued to Fortress Financial Group, Inc. (PINKSHEETS: FFGO) in settlement of the purchase of the "South Copperstone" Gold property and an additional amount of 38,800,814 restricted shares of the Company's Common Stock is being issued to Fortress Financial Group, Inc. (PINKSHEETS: FFGO) in settlement of the purchase of the "Bouse" Gold property and at a price of US$12.50 per share of Hurasu Resource Corporation Common Stock.

These shares of Hurasu Resource Corporation in the amount of 64,561,039 are to be distributed in full to Fortress Financial Group, Inc.'s stockholders as an Extraordinary Dividend at a date to be set by Fortress Financial Group, Inc.

The balance of the stock in both the "Bouse" and "South Copperstone" Gold properties is being acquired directly from the other stockholders in those properties; giving Hurasu Resource Corporation full ownership of both these Gold properties.

The Company announced on February 13, 2009 that it has changed its name to that of Hurasu Resource Corporation. Filings are being made to obtain a new CUSIP Number for the Company, to be followed by a change of the Company's name and its Trading Symbol.

Hurasu Resource Corporation is effecting a 10 for 1 Reverse Split of its outstanding Common Stock. The "Record Date" and "Pay Date" of this Reverse Split will be filed in due course.

The Company will complete its acquisitions of both the "Bouse" and "South Copperstone" Gold properties immediately post the aforesaid Reverse Split of Hurasu Resource Corporation's shares of Common Stock.

Hurasu Resource Corporation and its Transfer Agent will work alongside Fortress Financial Group, Inc. and its Transfer Agent; to facilitate the accurate and orderly payment of Fortress Financial Group, Inc.'s Extraordinary Stock Dividend of Hurasu Resource Corporation's restricted shares of Common Stock to eligible Fortress Financial Group, Inc. stockholders.

Hurasu Resource Corporation's Management looks forward to welcoming the large body of stockholders being brought onto our stockholder register through this Extraordinary Stock Dividend being paid by Fortress Financial Group, Inc. to its stockholders.

ABOUT FIRST PLATINUM RETAIL INNOVATIONS:

The Company has entered into Agreements to acquire a number of Gold Mining & Exploration properties; namely "Bonanza," "Clara," "El Dorado," "North Rawhide," "Ester Basin," "Potts Mountain" and "McCracken" Gold Projects. The Company's flagship Gold Mining Property is its "Bonanza." The Company has agreed to acquire two additional Gold Mining Projects, those being "South Copperstone" and "Bouse." The Company will conclude these transactions post the Reverse Split of its outstanding shares of Common Stock.

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 as "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 company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

Contact Information

  • Contact:
    First Platinum Retail Innovations, Inc.
    Ronald Y Lowenthal
    President
    Email Contact
    Tel: 954-840-6955