SOURCE: Freedom Financial Holdings, Inc.

June 18, 2009 09:00 ET

Freedom Financial Holdings Announces CEO Purchases More Free Trading Shares and Reports Additional Oil Sales

FORT WAYNE, IN--(Marketwire - June 18, 2009) - Freedom Financial Holdings, Inc. (PINKSHEETS: FDMF) CEO Brian Kistler announced today that in a private transaction he has purchased an additional 47,520,000 free trading shares.

Kistler commented, "The shares purchased were issued in early 2008 and are part of the remaining block of shares that were being held by an institution that assisted the company financially, right after the company went public.

"This block of shares along with the previously announced purchase represents approximately 39% of the free trading shares in the float; however, these shares have become restricted under Rule 144. In keeping with my previously stated goal, the float is now less than 120 million shares," concluded Kistler.

"I am pleased to further announce that additional oil has been sold from both the Beachner Lease and Worrell Lease. The electricity has been fully restored on the Beachner Lease and weather permitting should be fully on line by the end of July. While the electricians were working to complete the electrical grid on the Beachner Lease, work commenced on the Worrell Lease, which is located in Crawford County, Kansas, and production has begun on this lease as well. Daily production numbers are sketchy due to the wells being shut down for much of the day for the work being done, but I am extremely pleased with the progress and by all indications, we are on track to achieve all of our stated goals," concluded Kistler.

ABOUT FREEDOM FINANCIAL HOLDINGS, INC.

Freedom Financial Holdings, Inc. is a holding company with an objective to acquire undervalued assets and/or initiate operations in underserved 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. You can learn more about us by visiting our website www.freedomenergy.com.

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 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:
    Investor Relations
    David Elias
    DME Capital, LLC
    516-967-0205