SOURCE: Freedom Financial Holdings, Inc.

August 15, 2008 09:00 ET

Freedom Financial Holdings Announces John L. Haas Joins Advisory Board

FORT WAYNE, IN--(Marketwire - August 15, 2008) - Freedom Financial Holdings, Inc. (PINKSHEETS: FDMF) CEO Brian Kistler announced today that the Company has landed Kansas Oil Hall of Fame member Johnny Haas to serve on the company's Oil Advisory Board as the company enters into the first stages of Oil production in Southwest Missouri.

Kistler stated, "Having a very successful Oil Baron like Johnny Haas as part of the team is more than I could have ever wished for. This just proves how much Johnny Haas believes in our business model as he stated, 'You guys really have impressed me with your technologies and your working in an area that's loaded with easily accessible Oil reserves, you fellows are going to be producing a lot of Oil.' Johnny's incredible 96% hit rate in drilling Oil wells is just hard to fathom and comprehend. His expertise teamed with our Head Driller & Operator Sam Davis, owner of All American Energy and WI Technology, can only be summed up as True Dream Team for Freedom. His contributions and vast knowledge of Geology and Oil Drilling will be invaluable as operations commence on our first lease. With Johnny on the team, this will help us reach our initiative and long term production goals of producing 8,000 BPD per day. This is an incredible head start and provides us with a tremendous amount of Oil expertise and credibility within the Oil production arena."

Mr. Haas stated, "Knowing the team players personally, gives me great confidence in lending my expertise and knowledge to Freedom. I have seen their impressive technologies work; it will change the landscape of how Oil is produced in Southwest Missouri and other parts of the US. The next generation of Oil exploration is going to come from Heavy Oil and Oil sands. I have never seen anything like it and what an opportune time for this to become available."

"Johnny Haas was instrumental in putting together the various team members and has a vested interest in our projects. He's just an incredibly smart Oilman and we are just blessed to have his active participation in this very exciting endeavor," stated Kistler.

"I have just returned from Kansas City where I have met with landowners and principals of WI Technology. I have personally seen the technology work and physically assisted in testing some oil wells. It's amazing to see actual light oil coming to the surface; I was coated from head to toe with oil after the testing. The fact that we have seasoned Oil Men on board and that we know where the oil is, should give our shareholders great comfort and confidence as we begin this initiative in Southwest Missouri," concluded Kistler.

ABOUT JOHN L. HAAS

John L. Haas began his career in the oil industry in 1935. He started working as laborer on oil rigs to earn money for schooling and college. In 1941, Mr. Haas took a break to join the U.S. Air Force and serve his country during World War II. He founded Haas Oil in 1949 which still exists today known as Haas Petroleum. Over the last 70 plus years it is estimated that Mr. Haas has drilled over 10,000 oil wells, concentrating in Southeastern Kansas. Mr. Haas was inducted into the Kansas Oil Field Hall of Fame in 1998 and is a member of the Kansas Geological Society having numerous state boards and commissions over the years. At the age of 86, Mr. Haas is still active in the oil business securing leases for Haas Petroleum which is presently being run by his son Mark Haas.

ABOUT FREEDOM FINANCIAL HOLDINGS, INC.

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

FFH also operates two divisions with a focus in the financial services sector; Freedom Financial Mortgage Corp. ("FFMC") with operations in Indiana, Ohio, Georgia and Florida and Freedom Mortgage Resolutions, Inc. with operations in Ohio, Indiana, Alabama, Illinois, Michigan, Minnesota, North Dakota, North Carolina, Wisconsin, Tennessee, Mississippi, Georgia, Florida, Nevada, Mississippi and Colorado.

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 it 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