DANVILLE, Calif., Jan. 20, 2011 (GLOBE NEWSWIRE) -- S3 Investment Company, Inc. (Other OTC:SIVC) today announced that CEO Jim Bickel has traveled to China to assist with the next steps in the close of a client transaction for the company's Redwood Capital subsidiary; to be present for the expected signing of at least one additional Redwood Capital client; and to support the activities of the company's other subsidiaries operating in China. The close of a Redwood Capital client brings additional stock value to S3's consolidated financial statements, since a portion of Redwood's fees are paid in stock of the client company when it becomes public.
Mr. Bickel will participate in meetings with Redwood Capital management regarding the pending acquisition transaction involving Mongolian Resource Corporation (MRC). Redwood Capital, which has been engaged as the Asian merchant banking financial advisor for MRC, assists private Asian companies through the process of accessing capital markets through Alternative Public Offerings (APO) transactions. The company has participated in transactions for clients which are now listed on exchanges including the U.S. Over-the-Counter Bulletin Board (OTCBB) market and Canada's Toronto Stock Exchange (TSX).
Mongolian Resource Corporation has entered into a conditional agreement to be acquired by Alamar Resources Limited, which is traded on the Australian Stock Exchange. An initial round of financing for the MRC transaction has been completed, and additional financing is currently being pursued with the assistance of with Stifel Nicolaus Weisel under a Letter of Engagement (LOE) with Alamar Resources Limited.
"The MRC transaction is in a very important stage, and Redwood Capital will assist our client in any way possible through to its anticipated close," said Mr. Bickel. "There are several additional contracts that may be ready to sign while I am in Asia, and we look forward to announcing at least one new client as a result of my trip. We will be reviewing a number of potential clients as well."
Mr. Bickel also plans to review the status of clinical and laboratory testing that isbeing conducted as part of additional SFDA clearances for the first products that S3's Redwood Medical subsidiary is preparing to distribute in China. Both the clinical and laboratory trials are currently underway.
In the course of the trip he will be updated on the progress of the Redwood Asia Fund LP, a private equity fund that was formed to facilitate faster capital response to the financing needs of Redwood Capital clients and greater participation in clients' future growth.
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About S3 Investment Company, Inc.
S3 Investment Company, Inc. ( http://www.redwoodgroupint.com ) and its Redwood Group International subsidiary are focused on facilitating the success of its subsidiaries operating in the China market, including Redwood Capital, Inc. Redwood Capital assists private companies in Asia through the process of accessing capital markets through Alternative Public Offerings (APO) transactions. The company has participated in transactions for clients which are now listed on exchanges including the U.S. Over-the-Counter Bulletin Board (OTCBB) market and Canada's Toronto Stock Exchange (TSX) and has a pending client transaction on the Australian Stock Exchange. For more information, please visit http://www.redwoodcapinc.com. Redwood Group International Medical, Inc. assists companies seeking to import and distribute Western medical technologies and products into the China market.
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.
CONTACT: S3 Investment Company Investor Relations investors@redwoodgroupint.com