August 07, 2008 14:38 ET

Fortress Financial Group, Inc. - Hunt Gold Corporation Investment

Company Updates Its Stockholders on Its Investment in Hunt Gold Corporation

NEW YORK, NY--(Marketwire - August 7, 2008) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that the Private Equity Group currently bidding for Hunt Gold Corporation has indicated that they intend to raise their bid price for that Company from their current bid price of US$0.025 per share. They intend do so prior to the market open, on August 8, 2008.

Fortress Financial Group, Inc. has directly acquired an additional amount of 42,569,020 "free trading" shares of Hunt Gold Corporation Common Stock at a price of no higher US$0.003 per share. Fortress Financial Group, Inc. holds a further and an indirect amount of 483,750,099 shares "free trading" shares of Hunt Gold Corporation Stock. Fortress Financial Group, Inc. holds an additional amount of 1,363,588,873 restricted shares of Hunt Gold Corporation's shares of Common Stock.

Fortress Financial Group, Inc. stands to make a very substantial profit from its stockholding in Hunt Gold Corporation; should this Takeover bid for Hunt Gold Corporation be successful.

Fortress Financial Group, Inc. received a short Loan facility in the amount of US$50 million to be used solely for further purchases of Hunt Gold Corporation's "free trading" stock, at what we view as "bargain basement prices," in the market; thereby increasing our Company's "free trading" stockholding in Hunt Gold Corporation.

These purchases of Hunt Gold Corporation are purely for investment purposes and to extract value from your Company's investment in Hunt Gold Corporation. This will not in any way affect the Company's repurchases of its own stock. The Company filed a detailed Form 8-K with the SEC on July 31, 2008 setting out the terms and conditions of this Loan Facility. This Loan is secured against the Company's existing and future shares of Hunt Gold Corporation Common Stock.

Fortress Financial Group, Inc. has not as yet increased its stockholding in Hunt Gold Corporation nor has it utilized this Loan facility whatsoever. The Company will however do so; should the bidders for Hunt Gold Corporation obtain in excess of 51% of the outstanding stock in that Company.

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 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 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