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Fortress Financial Group, Inc. — Update on Acquisitions Company Updates Stockholders on Its Acquisitions and Growth Strategy



2008-03-31 08:58:00

Fortress Financial Group, Inc. — Update on Acquisitions

Company Updates Stockholders on Its Acquisitions and Growth Strategy

NEW YORK, NY–( EMWNews – March 31, 2008) – Fortress Financial Group, Inc. (PINKSHEETS: FFGO) announced on March 17, 2008 that the Company was aggressively

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

long-standing partnership.

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

fund acquisitions.

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.


Fortress Financial Group, Inc.
Alan Santini
Chief Executive Officer

Tel: (954) 840-6961

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