Stockholders in Great West Gold, Inc. (now Fortress Financial Group, Inc.) were awarded Stock Dividends distributions, in the form of Ordinary Shares of 1p each (Par Value), in the below-mentioned Gold Mining Exploration companies br]
Ambassador Gold Holdings Plc - 2nd January 2006 (the “Record Date”)
Bouse Mining Holdings Plc - 7th November 2006 (the “Record Date”)
Copperstone Mining Holdings Plc - 2nd December 2005 (the “Record Date”)
Golden Eagle Mining Holdings Plc - 4th January 2006 (the “Record Date”)
Sentinel Resource Holdings Plc -14th November 2005 (the “Record Date”)
The “Record Date” reflects the day that you had to have to held stock in Great West Gold, Inc., to be eligible for the above-mentioned Dividends.
An amount of 900,000,000 Ordinary Shares of 1p (Par Value) was distributed by Great West Gold, Inc., to its stockholders, in each of the above-mentioned five Mining Companies. The balance of the stock, in these aforesaid Gold Mining Exploration Companies, is retained by Fortress Financial Group, Inc. (formerly Great West Gold, Inc.).
It is now apparent that in excess of 90% of eligible stockholders held their stocks in their brokerage accounts, on the “Record Dates”.
All of these shares are reflected on the five Gold Mining Exploration Company stockholder registers, under “Cede & Co.”, a clearing house of the DTC (Depositary Trust Company), used to “house” stocks for and on behalf of Brokerage firms.
The only and simplest way for us to resolve this issue, is now, as follows br]
We are contacting the DTC to establish which Broker/Dealer Firms held stock in Great West Gold, Inc. on those “Record Dates”.
Upon receipt of this information from the DTC, we will then be in a position to request from each of the applicable Broker / Dealer firms, a breakdown of their client accounts, addresses and number of shares held by each of their clients on the “Record Dates”.
Once we have all of this information, our Transfer Agent will be in a position to reconcile the accounts and “transfer” the stock from the “Cede & Co.” stockholding into the various eligible stockholder accounts. Please understand that a lot of paperwork and regulatory “hurdles” need to overcome to ensure that this is effected correctly, so as not to prejudice any stockholders. This is a very precise exercise.
We are left with no alternative but to pursue this avenue.
You may derive some comfort from our expedited “deals”, as announced, to dispose of these stockholdings to other quoted companies.
Once completed, this will undoubtedly pressure the DTC and the Broker/Dealer Compliance departments to resolve the matter as fast as possible.
You may rest assured that the Dividends to which you entitled, will be credited to your accounts in due course.
Please understand that our hands “are tied”, to some degree, we are reliant upon various regulatory bodies for this information and no Transfer Agent is going to accept Brokerage Statements, reflecting your stockholdings on the “Record Dates” as sufficient proof to simply transfer stock in these companies from the “Cede & Co.” stockholding to yourself.
Please believe me, we share in your frustration and are doing everything in our power to resolve this, and fast.
The fact that we now know, that all of your stock is held in the DTC “Cede & Co.” accounts has simplified matters considerably. You may derive some comfort in knowing that your stockholding records are safe in the hands of the DTC.
Kind Regards
Fortress Financial Group, Inc.
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