DANVILLE, Calif., March 3, 2011 (GLOBE NEWSWIRE) -- S3 Investment Company, Inc. (Pink Sheets:SIVC) today announced that its Board of Directors has approved a change of the company's name to Redwood Group International and that the company is currently in the process of filing a corporate action request with FINRA to effect the name change.
The name change, which was first announced in September 2010, is being undertaken in order to more closely associate the company with its multiple Redwood subsidiaries operating in the China market. The company's subsidiary structure has expanded over recent months with formation of the Redwood Asia Private Equity Fund and plans to acquire a broker-dealer. These entities, along with Redwood Capital, Redwood Medical and others that may be formed or acquired in the future, will function as subsidiaries of Redwood Group International.
In anticipation of the name change, the company has already transitioned its website to www.redwoodgroupint.com and intends to significantly expand its Internet presence with fully developed websites for each of its subsidiaries. The sites will be connected through the Redwood Group International portal, which will allow potential investors and the public market community to more clearly see the expansion of the company's operations, how each of the subsidiaries fit into the overall corporate structure, how many of the subsidiary services and products are complimentary, and how each of the entities are poised for significant future growth.
"With the name change approved and the paperwork in process, we are looking forward to fully implementing the Redwood Group International name as soon as possible," said Chairman and CEO Jim Bickel. "The S3 name is not reflective of any of the company's current operations and will be fully phased out in the coming months. Redwood name will be present in all of our subsidiary companies, and having the public company similarly branded will not only help make clear the connection for our public market audience, but also for customers, clients and associates in Asia where the Redwood subsidiaries primarily operate."
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About S3 Investment Company, Inc.
S3 Investment Company, Inc. (http://www.redwoodgroupint.com ) and its Redwood Group International subsidiary are focused on facilitating the success of its subsidiaries operating in the China market, including Redwood Capital, Inc. Redwood Capital assists private companies in Asia through the process of accessing capital markets through Alternative Public Offerings (APO) transactions. The company has participated in transactions for clients which are now listed on exchanges including the U.S. Over-the-Counter Bulletin Board (OTCBB) market and Canada's Toronto Stock Exchange (TSX) and has a pending client transaction on the Australian Stock Exchange. For more information, please visit http://www.redwoodcapinc.com. The Redwood Asia Fund, LP is a private equity fund formed to facilitate faster capital response to the financing needs of Redwood Capital clients. 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.