Fortress Financial Group, Inc. — Potential Sale of Hunt Gold Corporation Stock
SOURCE:
FORTRESS FINANCIAL GROUP, INC.
2008-08-13 11:35:00
Fortress Financial Group, Inc. — Potential Sale of Hunt Gold Corporation Stock
Company Confirms Potential Sale of Its “Free Trading” Stock in Hunt Gold Corporation
NEW YORK, NY–(EMWNews – August 13, 2008) – Fortress Financial Group, Inc. (
483,000,000 “free trading” shares of Hunt Gold Corporation Common Stock,
with the Private Equity Group currently bidding for control of Hunt Gold
Corporation with another unrelated party.
Should the Company obtain a price of US$0.03 per share for these shares,
that being the current bid price for Hunt Gold Corporation, this will
result in a cash injection of US$14,490,000.
These funds will be utilized in the Company’s FICO Enhancement & Credit
Repair business housed in California-based, Trinity Consumer Finance, Inc.
(“Trinity”), a wholly owned subsidiary company of Fortress Financial Group,
Inc.
Trinity is generating extremely large returns on its Loan Book and a large
additional cash injection into Trinity will have a very substantial impact
upon the Company’s earnings.
The Company’s Management is of the opinion that the holding of these shares
of Hunt Gold Corporation stock do not fit into our strategy and that all of
these “non core” assets held by the Company be disposed of and the funds be
utilized to grow our existing businesses, businesses that we are acquiring,
and to focus on growing our earnings per share.
Fortress Financial Group, Inc. will continue to hold its restricted
stockholding in Hunt Gold Corporation for the time being.
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 is 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 a “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 company’s
annual report on Form 10-K or 10-KSB and other filings made by such company
with the SEC.
Contact: Investor Insights Dick Granieri Gordon Otter E Mail : Telephone : 1-800-530-3545 Fortress Financial Group, Inc. Tel: (954) 840-6961 |
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