SOURCE: FORTRESS FINANCIAL GROUP, INC.

August 15, 2008 13:54 ET

Fortress Financial Group, Inc. -- Cautionary Announcement

Company Cautions Stockholders in Their Dealings in the Company's Stock

NEW YORK, NY--(Marketwire - August 15, 2008) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that it is in advanced discussions which, if successful, may lead to a very substantial and immediate shift in the Company's strategy. This proposal was only given to the Company on August 14, 2008 and we need to some time to debate the merits of this proposal.

It is not unlikely that the Company may now distribute all of its assets to its stockholders.

The Company will update its stockholders on Monday, August 18, 2008 as to the outcome of these negotiations.

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

Contact Information

  • Contact:
    Investor Insights
    Dick Granieri
    Gordon Otter
    E Mail : Email Contact
    Telephone : 1-800-530-3545

    Fortress Financial Group, Inc.
    Alan Santini
    Chief Executive Officer

    Email Contact

    Tel: (954) 840-6961