FFGO - Fortress Financial Group, Inc
On June 30, 2010, a Schedule 13-D was filed with the SEC by an Investment Company disclosing that it was now in control of 23.59% of Fortress Financial Group, Inc.’s shares of outstanding Common Stock. To view this Filing and to obtain the key facts, please click here. On July 13, 2010, the Company was notified that Sloane Investments, Inc. had acquired all the Company’s outstanding Loan Notes as well as the Company’s Short Term Debt. A Form 8-K was filed by the Company on July 14, 2010. To view this filing, please click here. The Company is now wholly reliant upon Sloane Investments, Inc. for its immediate funding requirements. Sloane Investment, Inc.’s representatives have made it extremely clear that the sale of Company’s assets is to proceed as planned and that an immediate distribution of the sale proceeds to the stockholders is to take place. Sloane Investments, Inc.’s stockholding and their acquisition of the Company’s entire outstanding debt has placed them in a position to ensure that there are no delays of whatsoever nature in our stated plans.
Fortress Financial Group, Inc. (PINKSHEETS: FFGO.PK) holds an interest in two Gold Properties, namely "Bouse" and "South Copperstone". The Company has agreed upon final terms in respect of the sale of its interests in both of the Gold Properties. The entire proceeds from these sales are to be distributed through a single Extraordinary Dividend to our stockholders. A Dividend "Record Date" and "Payment Date" are to be set with FINRA immediately upon the execution of the Sale and Purchase Agreements. Upon the receipt of the sale proceeds and the distribution of these entire sale proceeds to its stockholders, Fortress Financial Group, Inc. will no longer hold any interests nor assets of any kind whatsoever.
Fortress Financial Group, Inc. had expected to execute the sale on its Gold Interests by Monday July 5, 2010. The Purchaser’s external Auditors are still in the process of completing the requisite work required in order for the Purchaser to execute the purchase of Fortress Financial Group, Inc.’s Gold Interests. The Purchaser has notified ourselves on Friday July 2, 2010 that they are confident that their Auditors will have completed within two weeks from that date, at the latest. No further Press Releases are to be issued in respect of the execution of the sale process as the terms are agreed upon and upon final execution, stockholders will be notified by Regulatory Filings. Fortress Financial Group, Inc. has provided clear pricing guidelines to its stockholders and nothing further is required to add to what we have stated in our Press Releases and our Regulatory Filings.
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