SOURCE: FORTRESS FINANCIAL GROUP, INC.

August 12, 2008 08:27 ET

Fortress Financial Group, Inc. -- Resolution of Short Position

Company Confirms That Certain Stockholders Have Offered to Resolve the Short Position in the Company's Shares of Common Stock

NEW YORK, NY--(Marketwire - August 12, 2008) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that certain substantial stockholders who own in excess of 5% of the "free trading" shares of the Company's Common Stock have agreed to sell sufficient stock into the market at a price of no less than US$0.002 per share, in order to eliminate the short position that may exist in the shares of the Company.

This is being done to prevent a potential "Trading Halt" on the Company's stock which would not be in the interest of the Company's stockholders.

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:

    Fortress Financial Group, Inc.
    Alan Santini
    Chief Executive Officer

    Email Contact

    Tel: (954) 840-6961