SOURCE: FORTRESS FINANCIAL GROUP, INC.

August 11, 2008 15:14 ET

Fortress Financial Group, Inc. -- Stock Repurchases

Company Confirms That It Has Now Acquired the Unaccounted "Free Float" of Its Outstanding Shares

NEW YORK, NY--(Marketwire - August 11, 2008) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that it has repurchased, today, far in excess of the unaccounted for 52,019,275 shares of its "free trading" stock.

The Company is now going to publish, on a daily basis, full details of all disclosed stockholdings in this Company; this serves as a warning to those to seek to damage this Company, its stock price and to prejudice our stockholders.

Stockholders are urged to fax their stockholdings to the Company as requested, we undertake not to disclose any stockholder names whatsoever.

We are now in discussions with a certain Private Equity Group as to the best way to maximize stockholder value based upon this extraordinary situation.

The Company will be filing a Form 8-K with the SEC tonight; detailing the stock repurchases today.

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 is 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 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