FORTRESS FINANCIAL GROUP, INC.
Fortress Financial Group, Inc. — Update on Acquisitions
Company Updates Stockholders on Its Acquisitions and Growth Strategy
NEW YORK, NY–( EMWPresswire – March 31, 2008) – Fortress Financial Group, Inc. (
pursuing its stated strategy of becoming a broadly based consumer finance
products group; and was at that time, in negotiations with a significant
number of parties which we expected to lead to the closure of several
substantial acquisitions shortly.
We are now in a position to confirm that the Company is now in very
advanced negotiations to acquire a significant operator in the Mortgage
Lending business. It is envisaged, that this acquisition will be
immediately coupled with the acquisition of Mortgage Bank and “Licensed
Lending Company,” thereby increasing our margins very considerably. These
three acquisitions are “interlinked”: insofar as they together, have a
Stockholders will be kept updated on these acquisitions; it is hoped that
the Company will agree final terms with the Vendors of these targeted
companies within days.
The Company remains committed to expanding its interests in the Mortgage
Lending Sector, focusing on companies operating in the “financially
challenged” consumer sector who’s FICO scores have dropped to a level where
they are unable to obtain mortgages. These acquisitions will be coupled
with a planned large scale acquisition of Independent Mortgage Brokers in
specifically targeted areas where synergies exist to merge these
operations, reduce their overhead costs and place them in a position to
negotiate more favorable commission terms. In short, the Company is
utilizing its strong balance sheet to acquire companies at the “bottom of
the economic cycle.”
The company confirms that it remains in very advanced discussions with a
view to acquiring a small State Chartered Bank; to be acquired for the
purposes of housing the Company’s “USA Domestic Debit Card Division.” The
rationale for this acquisition is to grow the profits of our domestic debit
card program at a substantial rate as the Company would receive all of the
profits from these activities, as compared to existing partnership
agreements. This acquisition of a Licensed Bank will allow the Company to
offer credit cards to the “financially challenged” as well being in a
position offer to a larger range of “private labeled” cards to various
substantial organizations within the United States. This would lead to a
very aggressive roll out and promotion of branded “Fortress” domestic
credit and debit cards.
The Company will be launching its Corporate web site upon the completion of
these acquisitions, thereby allowing investors to accurately evaluate the
The Company has appointed an Auditor, as filed on a Form 8-K, some time
ago, and remains committed to bringing its delinquent filings up date and
resume trading on the OTC BB thereafter.
The Company has now agreed terms to exchange its stockholdings in both the
“Bouse” and “South Copperstone” Gold Projects for stock in a USA quoted
Gold Mining & Exploration Company. The Company intends to retain these
shares as a portfolio investment and as collateral for substantial loans to
About Fortress Financial Group, Inc.
Fortress Financial Group, Inc. is primarily engaged in the issuing and
marketing of prepaid debit 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 second quarter of 2008.
The Company operates through Fortress Card Solutions, Inc. and Moneyworx,
Inc. The Company will shortly be establishing an office in Nassau, Bahamas;
primarily to service our High Net Worth “offshore” cardholder base.
The Company is utilizing is substantial Balance Sheet of circa US$1.4
billion comprised of quoted and unquoted Gold Mining & Exploration stocks;
to aggressively fund a large number of acquisitions in the consumer
financial services sector; initially focused on the Mortgage Lending
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. The Company
holds circa 48% of the outstanding stock in Hunt Gold Corporation as an
The Company is now exchanging it interest in the “South Copperstone,” and
“Bouse” Gold Mining Exploration properties for shares of Common Stock in a
USA Gold Mining & Exploration Company.
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.
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