SOURCE: FORTRESS FINANCIAL GROUP, INC.

May 06, 2008 13:59 ET

Fortress Financial Group, Inc. - Update on Acquisitions

Company Confirms That Planned Acquisitions to Be Considerably Larger Than Anticipated

NEW YORK, NY--(Marketwire - May 6, 2008) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) is in a position to confirm that the Company is completing the acquisitions as previously announced but advises stockholders that the amount and the size of these acquisitions is now considerably larger than ever envisaged by the Company's Management.

The completion of these acquisitions and the exchange of the Company's holdings in the "Bouse" and "South Copperstone" Gold Projects for stock in a USA quoted Gold Mining Company will have a very material impact upon the Company's Net Asset Value per Share.

The completion of all of these acquisitions will create a very substantial Company in the Consumer Finance Industry with an extremely strong cash flow and very considerable earnings.

Stockholders will be advised upon the completion of these acquisitions.

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 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