NEW YORK, NY -- (Marketwire) -- 08/07/08 -- Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that the Private Equity Group currently bidding for Hunt
Gold Corporation has indicated that they intend to raise their bid price
for that Company from their current bid price of US$0.025 per share. They
intend do so prior to the market open, on August 8, 2008.
Fortress Financial Group, Inc. has directly acquired an additional amount
of 42,569,020 "free trading" shares of Hunt Gold Corporation Common Stock
at a price of no higher US$0.003 per share. Fortress Financial Group, Inc.
holds a further and an indirect amount of 483,750,099 shares "free trading"
shares of Hunt Gold Corporation Stock. Fortress Financial Group, Inc. holds
an additional amount of 1,363,588,873 restricted shares of Hunt Gold
Corporation's shares of Common Stock.
Fortress Financial Group, Inc. stands to make a very substantial profit
from its stockholding in Hunt Gold Corporation; should this Takeover bid
for Hunt Gold Corporation be successful.
Fortress Financial Group, Inc. received a short Loan facility in the amount
of US$50 million to be used solely for further purchases of Hunt Gold
Corporation's "free trading" stock, at what we view as "bargain basement
prices," in the market; thereby increasing our Company's "free trading"
stockholding in Hunt Gold Corporation.
These purchases of Hunt Gold Corporation are purely for investment purposes
and to extract value from your Company's investment in Hunt Gold
Corporation. This will not in any way affect the Company's repurchases of
its own stock. The Company filed a detailed Form 8-K with the SEC on July
31, 2008 setting out the terms and conditions of this Loan Facility. This
Loan is secured against the Company's existing and future shares of Hunt
Gold Corporation Common Stock.
Fortress Financial Group, Inc. has not as yet increased its stockholding in
Hunt Gold Corporation nor has it utilized this Loan facility whatsoever.
The Company will however do so; should the bidders for Hunt Gold
Corporation obtain in excess of 51% of the outstanding stock in that
Company.
About Fortress Financial Group, Inc.
Fortress Financial Group, Inc. was primarily engaged in the issuing and
marketing of prepaid debit card and related payment solution activities.
Through the closure of the Trinity Mercantile Finance Group and the
Mortgage Bank acquisitions Fortress Financial Group, Inc. is now expediting
its plans to become a broadly based Consumer Finance Group. The "Mortgage
and Consumer Lending Divisions" will comprise the vast majority of the
Group's earnings in the immediate to medium term.
The Company is utilizing its substantial Balance Sheet of circa US$100
million comprised of quoted and unquoted Gold Mining & Exploration stocks
(This is after the payment of the Extraordinary Dividend of US$400 million
to stockholders) to aggressively fund a large number of acquisitions in the
consumer financial services sector, initially focused in the Mortgage
Lending and Banking sectors.
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