SOURCE: Freedom Financial Holdings, Inc.

April 29, 2009 09:00 ET

Freedom Financial Holdings Announces and Clarifies Additional Share Buy Back

FORT WAYNE, IN--(Marketwire - April 29, 2009) - Freedom Financial Holdings, Inc. (PINKSHEETS: FDMF) CEO Brian Kistler announced today that additional common shares have been purchased by insiders of the company.

"I wish to clarify that over the course of the last 6 months, in addition to the previously announced share buy back (that retired the remainder of a convertible note), certain members of the board of directors and I have purchased shares of Freedom Financial Holdings, Inc. common stock. These shares were purchased from the open market. It is the continued intent, that as funds are available, the company, certain members of the board of directors, and I will continue to purchase shares either on the open market and or in private transactions as available," commented Kistler.

"There is no doubt in any of our minds that the value of the company is far above the current share price, thus for no other reason, it makes a good investment decision, both for the company and me personally to gather as much of the shares as possible. In keeping with counsel's advice, all rules and regulations that apply are and will continue to be followed," continued Kistler.

"I am very pleased with the progress that has been made over the last several weeks. We fully anticipate having in excess of 160 barrels of oil to sell, within the next couple of weeks. Further, in keeping with our acquisition strategy, Mr. O'Dell has submitted an acquisition proposal for my consideration. It is a very interesting opportunity and I look forward to releasing further details soon," concluded Kistler.

ABOUT FREEDOM FINANCIAL HOLDINGS, INC.

Freedom Financial Holdings, Inc. ("FDMF") is a holding company with a focus on the identification of opportunities in the financial services sector. The Company's objective is to acquire undervalued assets and/or initiate operations in under-served niches. Once established within the FDMF portfolio, the Holding Company will provide the support necessary to enable each of its subsidiaries to maximize their business opportunities.

FORWARD-LOOKING STATEMENT: This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information

  • Contact:
    Freedom Financial Holdings, Inc
    Brian Kistler
    260-490-5363 ext 307