DANVILLE, Calif., Sept. 13, 2010 (GLOBE NEWSWIRE) -- S3Investment Company, Inc. (Pink Sheets:SIVC) today announced that the company's wholly owned Redwood Capital subsidiary has opened an office in Ulaanbaatar, Mongolia, which is expected to allow the company to work more closely with clients that operates in the Mongolia market as well as explore additional emerging opportunities the country.
Mongolia has recently gained attention as a new frontier for foreign private equity investment, particularly in the areas of natural resources and mining. Mongolia has $5 billion economy with 8% average annual Gross Domestic Product growth. As one of the fastest growing markets in the world, its key economic driver is natural resources. Mongolia is estimated to need up to $30 billion of investment to develop its natural resources.
Earlier this year, Redwood Capital, which assists private Chinese companies in accessing the North American capital markets by achieving reverse merger and financing transactions, signed a new client that operates in Mongolia's mining sector. Redwood Capital has attended Mongolia investment events and is also exploring additional opportunities in the country.
"Redwood Capital has identified Mongolia as an important emerging global market, and the new office in Ulaanbaatar will allow the company to better assist existing clients and explore new opportunities with companies that operate in Mongolia," said S3 Investment Company Chairman and CEO Jim Bickel. "Establishing a physical presence in this market is an important step for Redwood Capital, and we expect to update client activities in Mongolia in the near term."
Mr. Bickel and Matthew Totty, Director of Research and Investment Banking for Redwood Capital, were recently interviewed by Frontier Securities COO Yuji Iwasaki, and the interview is available for viewing at . Frontier Securities, a member of the Mongolian Stock Exchange, is the first local Mongolian securities firm with a global network and international expertise. Frontier has been given full-service securities related licenses by the Financial Regulatory Committee (FRC) of Mongolia and has brokerage, dealing and underwriting licenses that are regulated by FRC.
In the interview, Mr. Bickel and Mr. Totty discuss the new Ulaanbaatar office and the opportunities presented by the Mongolia market.
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About S3 Investment Company, Inc.
S3 Investment Company, Inc. () and its Redwood Group International subsidiary are focused on facilitating the success of two subsidiaries operating in the China market. Redwood Capital, Inc. assists private Chinese companies in accessing the North American capital markets by utilizing a network of investment banking relationships to achieve reverse merger transactions. For more information, please visit . Redwood 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.
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