updated 2/10/2011 8:46:27 AM ET 2011-02-10T13:46:27

IRVINE, Calif., Feb. 10, 2011 (GLOBE NEWSWIRE) -- It was announced today that a private investor group acquired 97% of the outstanding shares of Mercantile Resources, Ltd. (Pink Sheets:ACKO). The company will be submitting required applications and regulatory filings to change its name to Sharewell Capital Group, Inc. ("Sharewell"), and has appointed a new Chairman and interim Chief Executive Officer to lead the development and implementation of its business plan.

Sharewell will become a diversified holding company, acquiring controlling interests and strategic assets primarily in the financial services industry. Sharewell will focus on niche-oriented firms and investments that offer significant growth potential, which Sharewell believes can be accelerated through acquisition, consolidation, collaboration and synergies with its management team, portfolio companies and strategic investors, and by leveraging its global relationship network. 

Sharewell has begun raising new capital and is currently in active due diligence with several firms and assets that it believes would be foundational to its long-term vision and strategic plan. Upon closing, Jason Huntley was appointed Chairman of the Board, and Steve Robertson was appointed interim Chief Executive Officer. 

Mr. Huntley is currently the Managing Partner and Chief Investment Officer of Mars Hill Partners, LLC, a private investment firm based in Colorado Springs, Colorado, as well as the Founder and President of Huntley Consulting, Inc. Huntley Consulting, Inc. provides strategic advisory and consulting services in financial services, real estate and hospitality, and has been retained by Sharewell to help develop its long-term vision, strategic plan and acquisition strategy. 

Mr. Robertson was Founder and President of Abito, a private real estate development company based in Bend, Oregon. Abito specialized in the creation and implementation of modern residential communities. Mr. Robertson was also a key part of the vision and development team for Hoyt Street Yards in the Pearl District of Portland, Oregon, and previously led North American operations for a large Italian equipment manufacturer.

"Sharewell is the culmination of experience among our investors and strategic partners, coupled with unprecedented opportunities to raise and invest permanent capital to acquire and grow companies that will benefit considerably from being part of a larger portfolio of synergistic brands and talent," said Mr. Robertson. "We firmly believe that a liquid, transparent, publicly-traded company is the ideal package for pursuing our business plan, and I am excited to be part of helping create and grow a dynamic firm with such significant potential."

ABOUT SHAREWELL CAPITAL GROUP, INC.

Sharewell Capital Group, Inc. is a publicly-traded holding company focused on the acquisition and development of controlling interests in various companies and strategic assets, primarily in the financial services industry. As a public company, Sharewell intends to raise and invest permanent capital with a "duration agnostic" time horizon, in order to maximize shareholder equity and provide investors with continuous liquidity of their ownership position. Sharewell's investment objective is to generate consistent positive growth in shareholder equity over time, regardless of the direction of the global economy, equity markets or interest rates.

FORWARD LOOKING STATEMENTS

Certain statements made by Sharewell Capital Group, Inc., which are not historical facts, may be considered forward-looking statements, including, without limitation, statements as to trends, management's beliefs, expectations and opinions, which are based upon a number of assumptions concerning future conditions that ultimately may prove to be inaccurate.  Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors that may cause actual results to differ materially from those in the forward-looking statements.

CONTACT: Investor Relations Contact:
         Tammy Perry
         tammy@selahcommunications.com

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