TORONTO, July 13, 2007 (PRIME NEWSWIRE) -- Consolidated Mercantile Incorporated (Nasdaq:CSLMF) (TSX:CMC) announced today its intention to initiate a process to sell its investment interest in Distinctive Designs Furniture Inc., a manufacturer of leather and fabric upholstered furniture. The Board is currently evaluating potential strategies for implementing the sale. Consistent with this decision, it is anticipated that future operating results of this investment will no longer be consolidated but rather reported as a Discontinued Operation.
Consolidated Mercantile Incorporated is a management holding company which provides merchant banking and effects its investment strategy through investment in and management of its core strategic industries including furniture, packaging products and finance.
"Safe Harbor" statement under the Private Securities Reform Act of 1995: This release contains forward-looking statements which reflect management's current views of future events and operation. These forward-looking statements are based on assumption and external factors, including assumptions relating to product pricing, competitive market conditions, financial data and other risks or uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release and any changes in the assumptions or external factors could produce significantly different results.