SOURCE: FORTRESS FINANCIAL GROUP, INC.

April 25, 2008 11:24 ET

Fortress Financial Group, Inc. - Update on Acquisitions

Company Confirms Expected Completion of a Number of Acquisitions

NEW YORK, NY--(Marketwire - April 25, 2008) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that it expects to be in a position to announce the completion of the following acquisitions:

--  The California based "Trinity Mercantile Finance Group," a Mortgage
    Originator and a Consumer Finance Lender; and
    
--  An additional California based Licensed Mortgage Finance Bank and
    Mortgage Originator; and
    
--  A Title Company based in Florida but operating on a National basis;
    and
    
--  A Florida based Licensed Mortgage Finance Bank and Mortgage
    Originator; and
    
--  A New York based Mortgage Bank licensed to; and operating nationally;
    and
    
--  A State Bank holding a "Master License" for the issuance of Debit
    Cards, this will substantially increase the profits of the Company's Debit
    Card Division; and
    
--  An Internet "Credit Card Portal" generating revenues through internet
    advertising and "click through;" and
    
--  The acquisition of a specialist Internet Marketing and Search Engine
    Optimization Company to maximize the Fortress Group of Companies web
    presence.
    
--  The exchange of its interests in the "South Copperstone," and "Bouse"
    Gold Mining Exploration properties for shares of Common Stock in a USA Gold
    Mining & Exploration Company in a transaction valued at circa
    US$800million.
    

The acquisition of the "State Bank" holding a "Master License" for the issuance of cards, coupled with the acquisition of the New York bank, which holds the requisite lending licenses, will enable Fortress to launch its own Credit Card. This will be a substantial contributor to the Group's earnings.

Fortress will be immediately increasing the Capital Base of the Banking entitities in order to facilitate the planned substantial growth in the Banks' Lending facilities. It is intended to immediately extend the Licenses of the Banks to operate in other areas of banking.

Fortress has received third party investments to facilitate and fund these investments and will not be drawing upon its credit lines to fund these acquisitions.

Stockholders are advised that that upon the completion of these acquisitions, Fortress will immediately commence its very aggressive acquisition plan to build its "distribution pipeline" through large scale acquisitions of Independant Mortgage Brokers in targeted States.

Stockholders will be updated in the next week as to the full details of these acquisitions. The fact that these various entities are all regulated and Licensed has resulted in extensive legal and statutory filing work being incurred and the completion of these acquisitions is now expected to be completed within days.

It is intended to file details of all of these acquisitions with the SEC, and to issue the Press Releases detailing all these acquisitions and their Management profiles, on the same morning. This will be coupled will all of these Companies as well as that of Fortress Financial Group, Inc., launching their updated web sites.

An external firm of Public and Investor Relations Advisors will be appointed very shortly thereafter.

It is envisaged that additional appointments will be made to the Board of Directors of Fortress Financial Group, Inc.

About Fortress Financial Group, Inc.

Fortress Financial Group, Inc. is primarily engaged in the issuing and marketing of prepaid debit card and related payment solution activities. It acquired Moneyworx, Inc., a reseller of MasterCard prepaid USA Domestic and International Prepaid Debit Cards. Fortress Financial Group, Inc. will be launching its own label "Fortress" International Debit Card in the second quarter of 2008.

Upon the closure of the Trinity Mercantile Finance and the Mortgage Bank acquisitions, Fortress Financial Group, Inc. will expediting its plans to become a broadly based Consumer Finance Group. The "Mortgage Division" will comprise the vast majority of the Group's earnings in the medium term.

The Company is utilizing is substantial Balance Sheet of circa US$1billion comprised of quoted and unquoted Gold Mining & Exploration stocks, to aggressively fund a large number of acquisitions in the consumer financial services sector, initially focused on the Mortgage Lending sector.

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