DANVILLE, Calif., May 9, 2011 (GLOBE NEWSWIRE) -- Redwood Group International (Pink Sheets:RDWD) has completed its name change from S3 Investment Company and has been assigned its new stock trading symbol, RDWD, effective at the open of trading today.
"This name and symbol change is an important milestone for the company, since the Redwood brand has been gaining profile through the activities of its subsidiaries operating in Asia," commented Redwood Group International Chairman and CEO Jim Bickel. "The S3 name was a remnant of the company's past and was not reflective of the company's current operations. We believe that it will now be much easier to articulate the Redwood story to the investment community as well as to the markets where the company's subsidiaries operate. Redwood has expanded the number of companies in its subsidiary structure, and we expect that all of them will be revenue generating businesses that contribute to the public company's value. On the public company side, our goal will be to communicate the progress of our Redwood subsidiaries to current shareholders and potential investors."
The name change was undertaken in order to more closely associate the company with its multiple Redwood subsidiaries operating in the Asia market. The company's subsidiary structure has expanded over recent months with formation of the Redwood Asia Private Equity Fund and the acquisition of a broker-dealer, now named Redwood Securities. These entities join Redwood Capital, Redwood Medical and others that will be formed or acquired in the future as subsidiaries of Redwood Group International.
Redwood Group International has already transitioned its website to and intends to significantly expand its Internet presence with fully developed websites for each of its subsidiaries.
Redwood Capital recently announced the completion of the acquisition transaction, ASX listing and a $10 million Public Offering capital raise for Redwood Capital client Mongolian Resource Corporation (MRC). Redwood Capital acted as the Asian merchant banking financial advisor for MRC. In exchange for its services, Redwood Capital receives cash, stock and options in the client company.
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About Redwood Group International
Redwood Group International ( http://www.redwoodgroupint.com ) has multiple subsidiaries operating in the Asia market including Redwood Capital, Inc., which assists private companies in accessing the capital markets; Redwood Medical, Inc., which assists companies seeking to import and distribute Western medical technologies and products into the China market; and the Redwood Asia Fund, a private equity fund formed to facilitate faster capital response to the financing needs of Redwood Capital clients. Redwood Securities, a recently purchased a broker-dealer, will provide additional flexibility for the company to participate in transactions involving Redwood subsidiary companies.
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. Redwood Group International undertakes no obligation to update any such statements to reflect actual events.
CONTACT: Redwood Group International Investor Relations investors@redwoodgroupint.com