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Fortress International Group, Inc.: Fortress International Group, Inc. Announces Expiration of Warrants

^{Published on 2009-07-09 13:41:29, Last Modified on 2009-07-09 13:41:36 - Market Wire}
 

COLUMBIA, MD--(Marketwire - July 9, 2009) - Fortress International Group, Inc. (NASDAQ: [ FIGI ]) (NASDAQ: [ FIGIU ]) ("Fortress"), a leading provider of consulting and engineering, construction management and 24/7/365 site services for mission-critical facilities, today announced that the Company's publicly traded warrants (NASDAQ: [ FIGIW ]) will expire Monday, July 13, 2009 at 5:00 p.m., Eastern Time, in accordance with the terms of the warrants. The warrants were originally issued in connection with the Company's initial public offering in 2005, and prior to expiration each warrant was exercisable for the purchase of one share of common stock at $5.00 per share. There are approximately 15.7 million warrants to purchase common stock outstanding as of July 9, 2009.

About Fortress International Group, Inc.:

Fortress International Group, Inc. is leading mission-critical facilities into a new era of maximum uptime and efficiency. By combining the knowledge and experience of Total Site Solutions and Rubicon Professional Services, two experts in critical facilities infrastructure, Fortress provides consulting and engineering, construction management and 24/7/365 site services for the world's most technology dependent organizations. Serving as a trusted advisor, Fortress delivers the strategic guidance and pre-planning that makes every stage of the critical facility lifecycle more efficient. For those who own, lease or manage mission-critical facilities, Fortress provides innovative end-to-end capital management, energy, IT strategy, procurement, design, construction, implementation and operations solutions that optimize performance and reduce cost. Fortress International Group, Inc. -- setting a new standard for the optimized critical facility.

Fortress International Group, Inc. is headquartered in Maryland, with offices throughout the U.S. For more information, visit: [ www.FortressInternationalGroup.com ] or call 888-321-4877.

FORWARD-LOOKING STATEMENTS

This document may contain "forward-looking statements" -- that is, statements related to future -- not past -- events, plans, and prospects. In this context, forward-looking statements may address matters such as our expected future business and financial performance, and often contain words such as "guidance," "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could adversely or positively affect the company's future results include: the company's reliance on a significant portion of its revenues from a limited number of customers; the uncertainty as to whether the company can replace its declining backlog; risks involved in properly managing complex projects; risks relating to revenues under customer contracts, many of which can be canceled on short notice; risks related to the implementation of the company's strategic plan, including the ability to make acquisitions and the performance and future integration of acquired businesses; and other risks and uncertainties disclosed in the company's filings with the Securities and Exchange Commission. These uncertainties may cause the company's actual future results to be materially different than those expressed in the company's forward-looking statements. The company does not undertake to update its forward-looking statements.