Fortress Financial Group, Inc. -- Further Clarification (Marketwire)

Friday July 25, 10:38 am ET Company Clarifies a Number of Issues Raised by Its Stockholders NEW YORK, NY--(MARKET WIRE)--Jul 25, 2008 -- Fortress Financial Group, Inc. (Other OTC:FFGO.PK - News ) announced on July 24, 2008 that the Company had resolved to distribute an amount of US$400 million of its Gold Assets to its Stockholders, in the form of an Extraordinary Dividend. This Extraordinary Dividend equates to an amount of 1.24 cents per share of Common Stock based upon the outstanding shares of the Company's Stock at July 24, 2008. The Company receives an amount of US$500 million in quoted Gold Mining stock ("Goldco") in exchange for its stockholding in the "Bouse" and "South Copperstone" Gold Mining & Exploration companies. This transaction will be consummated in August of 2008. Our calculations of this valuation are... [read full story]