SOURCE: FORTRESS FINANCIAL GROUP, INC.

May 01, 2008 12:33 ET

Fortress Financial Group, Inc. - Update on Acquisitions

Company Confirms It Is Completing Acquisitions as Planned

NEW YORK, NY--(Marketwire - May 1, 2008) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that it is now in the final stages of the completion of the acquisitions announced on April 25, 2008.

These are:

--  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
    
--  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$800
    million.
    

The acquisition of a State Bank holding a "Master License" for the issuance of Debit Cards will be delayed for about a month. This acquisition will substantially increase the profits of the Company's Debit Card Division; and

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