Replies to post #168171 on Fortress Financial Group fka FFGO

[TomSawyer]

"data point"

Good point OldBen. Let's see if NMGL delivers, or fails.

[Militia Man]

Ah, yes. There it is.. Thanks. On or after January 1, 2010. So, if it is on Jan 1, 20010 we should see them before that date.. If after then possibly not before, but after that date. Sure would be nice before. But if after, I would still think it would be by when NMGL has it's next 10q due, thus after January 1, 2010 is till okay by me and in the cards.

I like the idea before.:-)

Rocket Man

On or after January 1, 2011, NMGL may at its sole and absolute discretion redeem all or part of either of the Preferred Series “A” shares or the Preferred Series “B” shares for cash.

Sure can. In the FAQ section is one such example on FFGO's own website.

No NMGL Preferred Series “A” and Series “B” shares may be redeemed prior to January 1st, 2011. What is the process by which shares may be redeemed after that date and can shareholders elect to redeem a percentage of shares?

On or after January 1, 2011, NMGL may at its sole and absolute discretion redeem all or part of either of the Preferred Series “A” shares or the Preferred Series “B” shares for cash.

To redeem the shares, they need to be possessed. FFGO would not say this unless it was understood to be true by NMGL. NMGL gave direction as to when the shares would be redeemable. They would need to be possessedbefore January 1st. We are closing in on that quickly. I have no physical possession of any such shares. So, as I have said, a test for NMGL and the "esteemed colleagues" at NMGL might give you a "data" point very soon.~ OldBen

[Militia Man]

I looked back and the first sentence preceding what you provided may need to be added? I see that is different in the FAQ.. (Not saying you edited it. Just saying it is different.)

Rocket Man


5. REDEMPTION. The shares of Series A Preferred Stock shall not be
redeemable prior to December 31, 2010. On and after January 1, 2011, the
Company, at its option, may redeem shares of Series A Preferred Stock, as a
whole or in part, for cash, at any time or from time to time, at a redemption
price of Sixteen Dollars (US$16.00) per share plus, in each case, any declared
and unpaid dividends thereon to the date fixed for redemption. In the event that
fewer than all of the outstanding shares of Series A Preferred Stock are to be
redeemed, the number of shares to be redeemed shall be determined by the Board
of Directors and the shares to be redeemed shall be determined by lot or pro
rata as may be determined by the Board of Directors or by any other method as
may be determined by the Board of Directors in its discretion to be equitable.
In the event the Company shall redeem shares of the Series A Preferred Stock,
notice of such redemption shall be given by first class mail, postage prepaid,
mailed not less than 30 nor more than 60 days prior to the redemption date, to
each holder of record of the shares to be redeemed, at such holder's address as
appears on the stock records of the Company, or by publishing notice thereof in
a newspaper of general circulation in Clark County, Nevada. If the Company
elects to provide such notice by publication, it shall also promptly mail notice
of such redemption to each holder of the shares of Series A Preferred Stock to
be redeemed. Each such mailed or published notice shall state: (a) the
redemption date; (b) the number of shares of Series A Preferred Stock to be
redeemed and, if fewer than all the shares held by such holder are to be
redeemed, the number of such shares to be redeemed from such holder; (c) the
redemption price; (d) the place or places where certificates for such shares are
to be surrendered for payment of the redemption price; and (e) that dividends on
the shares to be redeemed will cease to accrue on such redemption date. No
defect in the notice of redemption or in the mailing thereof shall affect the
validity of the redemption proceedings, and the failure to give notice to any
holder of shares of the Series A Preferred Stock to be so redeemed shall not
affect the validity of the notice given to the other holders of shares of the
Series A Preferred Stock to be redeemed. Notice having been mailed or published
as aforesaid, then, notwithstanding that the certificates evidencing the shares
of the Series A Preferred Stock shall not have been surrendered, from and after
the redemption date (unless default shall be made by the Company in providing
money for the payment of the redemption price) dividends on the shares of the
Series A Preferred Stock so called for redemption shall cease to accrue, and
said shares shall no longer be deemed to be outstanding, and all rights of the
holders thereof as stockholders of the Company (except the right to receive from
the Company the redemption price) shall cease. Upon surrender in accordance with
said notice of the certificates for any shares so redeemed (properly endorsed or
assigned for transfer, if the Board of Directors shall so require and the notice
shall so state), such shares shall be redeemed by the Company at the redemption
price aforesaid. In case fewer than all the shares represented by any such

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certificate are redeemed, a new certificate shall be issued representing the
unredeemed shares without cost to the holder thereof. Any shares of the Series A
Preferred Stock that shall at any time have been redeemed shall, after such
redemption, in the discretion of the Board of Directors of the Company, be (x)
held in treasury or (y) resume the status of authorized but unissued shares of
preferred stock, without designation as to series, until such shares are once
more designated as part of a particular series by the Board of Directors.

6. AMENDMENTS. No provision of these terms of the Series A Preferred Stock
may be amended, modified or waived as to such Series without the written consent
or affirmative vote of the holders of at least fifty-one percent (51%) of the
then outstanding shares of Series A Preferred Stock.

IN WITNESS WHEREOF , North American Gold & Minerals Fund has caused this
Certificate to be signed by Ronald Y. Lowenthal, its President and CEO, this
11th day of August, 2010.


/s/ Ronald Y. Lowenthal
-------------------------------------
Ronald Y. Lowenthal
President & CEO

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Rocket Man
Share
Sunday, December 19, 2010 8:12:19 AM
Re: OldBen post# 168171 Post # of 168175

"Ah, yes. There it is.. Thanks. On or after January 1, 2010. So, if it is on Jan 1, 20010 we should see them before that date.. If after then possibly not before, but after that date. Sure would be nice before. But if after, I would still think it would be by when NMGL has it's next 10q due, thus after January 1, 2010 is till okay by me and in the cards.

I like the idea before.

Rocket Man"

Quote:
On or after January 1, 2011, NMGL may at its sole and absolute discretion redeem all or part of either of the Preferred Series “A” shares or the Preferred Series “B” shares for cash.


Quote:
Sure can. In the FAQ section is one such example on FFGO's own website.

No NMGL Preferred Series “A” and Series “B” shares may be redeemed prior to January 1st, 2011. What is the process by which shares may be redeemed after that date and can shareholders elect to redeem a percentage of shares?

On or after January 1, 2011, NMGL may at its sole and absolute discretion redeem all or part of either of the Preferred Series “A” shares or the Preferred Series “B” shares for cash.

To redeem the shares, they need to be possessed. FFGO would not say this unless it was understood to be true by NMGL. NMGL gave direction as to when the shares would be redeemable. They would need to be possessedbefore January 1st. We are closing in on that quickly. I have no physical possession of any such shares. So, as I have said, a test for NMGL and the "esteemed colleagues" at NMGL might give you a "data" point very soon.~ OldBen

No NMGL Preferred Series “A” and Series “B” shares may be redeemed prior to January 1st, 2011. What is the process by which shares may be redeemed after that date and can shareholders elect to redeem a percentage of shares?

On or after January 1, 2011, NMGL may at its sole and absolute discretion redeem all or part of either of the Preferred Series “A” shares or the Preferred Series “B” shares for cash. This is at the discretion of the NMGL Board of Directors and there is absolutely no possibility that NMGL has any intention whatsoever of considering any such actions at that time. NMGL, at this time, considers these transactions as a mere “warehousing” exercise, their intention is to obtain 100% ownership of both Bouse Gold, Inc. and South Copperstone, Inc. over a period of time, to then use their best efforts to dispose of both Bouse Gold, Inc. and South Copperstone, Inc. and if successful, NMGL would then redeem the Preferred Series “A” and the Preferred Series “B” shares for cash and at their face value.

http://www.fortfinancegroup.com/faq.html