IRVINE, Calif., March 25, 2011 (GLOBE NEWSWIRE) -- Sharewell Capital Group, Inc. (Pink Sheets:SHCGD) ("Sharewell"), formerly Mercantile Resources, Inc. (Pink Sheets:ACKO), is pleased to announce that the Financial Industry Regulatory Authority (FINRA) has approved and processed the Company's name change and has issued a new trading symbol of "SHCGD" to reflect this change. Sharewell has also effected a 1 for 30 reverse stock split.
The name change, symbol change and reverse stock split became effective through FINRA at the opening of business on March 25, 2011. After 20 business days, the "D" (appended to the symbol to reflect that it is a new symbol) will be dropped, and the symbol going forward will be "SHCG" thereafter.
Steve Robertson, interim CEO, stated: "We are very pleased to announce the name and symbol change that best reflects the company's business. The objective of the stock split is to better position Sharewell for a senior stock exchange listing. This is an exciting time for us and the steps taken are measurable milestones of our commitment to company growth and shareholder value."
About Sharewell capital group, inc.
Sharewell Capital Group, Inc. is a publicly-traded holding company focused on acquiring controlling interests and making strategic investments primarily in the financial services industry. Sharewell intends to raise and invest significant permanent capital with a "duration agnostic" time horizon, in order to maximize shareholder equity and provide investors with continuous liquidity over time.
FORWARD LOOKING STATEMENTS
Certain statements made by Sharewell, 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.
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