Fortress
Financial Group, Inc. – Acquisitions and Appointment
Released
on: February 19, 2008, 10:14 am
Press
Release Author: Fortress
Financial Group, Inc.
Industry:
Financial
Press
Release Summary: Company updates on acquisitions and confirms appointment
of Corporate Finance Advisors
Press
Release Body: NEW YORK, NY, February 19, 2008 Fortress Financial
Group, Inc. (PINKSHEETS: FFGO) announced on February 14,
2008 that it had entered into a Long Term Loan Agreement in the
amount of US$5 million. This initial loan agreement is a “non
recourse” loan secured against a small portion of the Company’s
restricted stockholding in Hunt Gold Corporation.
This loan will be drawn upon as required to fund the Company’s
aggressive acquisition plan.
The Company has appointed a boutique corporate finance company to
conduct the sourcing and due diligence of these acquisitions. To
date, they have identified in excess of 200 potential acquisitions.
The Company expects to announce several acquisitions in the forthcoming
weeks, all of which have substantial track records of earnings and
cash flow generation; and with very competent Management Teams.
The Company expects to increase its borrowings substantially in
the near future, to continue this business model of aggressive acquisitions.
The Company will be leveraging against its substantial portfolio
of investments in order to fund this very aggressive growth; thereby
ensuring an immediate and substantial cash flow and profits for
the Company.
Fortress Financial Group, Inc. holds a 48% stockholding
in Hunt Gold Corporation, currently valued at circa
US$500 million. Fortress Financial Group, Inc.
retains additional unquoted Gold Mining & Exploration
interests valued at circa US$400 million. It expects to dispose
of these remaining additional assets very shortly, in return for
stock in a quoted USA Gold Mining Company. This
will result in the Company’s ability to leverage against being
its quoted investments, effectively being doubled.
Alan Santini, the Chief Executive Officer of Fortress Financial
Group, Inc. commented “that he was now extremely
confident that this very aggressive acquisition strategy would be
swift and successful, given the results and deal flow being generated
by our Corporate Finance Advisors who have advised us that are they
overwhelmed in acquisition deal flow of Companies synergistic with
ourselves”. He added that “the immediate execution
of the acquisition of several of these targeted companies will immediately
transform the Company to that of a strong earnings and cash flow
base; thereby expediting further and more substantial acquisitions
in a far shorter period of time than previously envisaged by the
Company”.
About
Fortress Financial Group, Inc.
Fortress
Financial Group, Inc. is now primarily engaged in the issuing
and marketing of prepaid debit and credit card and related payment
solution activities. It has just announced the acquisition of 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 first quarter of 2008.
Fortress
Financial Group, Inc. has secured a “non recourse”
initial long term loan facility in the amount of US$5 million and
intends to immediately embark upon a very aggressive acquisition
strategy of synergistic companies. These acquisitions to be funded
through cash, vendor financing and the issue of the Company’s
restricted shares of Common Stock. The Company’s strategy
is to immediately build a strong Group of financial services companies
with strong earnings and cash flow.
Fortress
Financial Group, Inc. (formerly Great West Gold, Inc.),
was a gold mining exploration stage company, engaged in the acquisition
and exploration of mining properties in the United States. The Company
retained these Gold Mining Exploration interests
as portfolio assets; as it intended to extract value from these
assets through a future “spin off” or a sale. The Company
has disposed of its interests in the “Ambassador”, “Golden
Eagle” and “Mockingbird” Gold Mining Exploration
properties to Hunt Gold Corporation and holds approximately 48%
of Hunt Gold Corporation shares of outstanding
Common Stock, as an investment.
The
Company retains it interest in the “South Copperstone”,
and “Bouse” Gold Mining Exploration properties,
at this time. It is expected that these two remaining interests
will be exchanged for shares of Common Stock in a USA Gold
Mining & Exploration Company, very shortly.
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:-
Fortress
Financial Group, Inc.
Alan Santini
Chief Executive Officer
investor@fortfinancegroup.com
Tel:
(954) 840-6961
Web
Site: http://www.fortfinancegroup.com
Contact
Details: Fortress Financial Group, Inc.
1903 60th Place E.
Suite M2240
Bradenton
Florida
34203
Contact
: Alan Santini (Chief Executive Officer)
Telephone
: (954) 840-6961
E
Mail : investor@fortfinancegroup.com

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