DANVILLE, Calif., Oct. 5, 2010 (GLOBE NEWSWIRE) -- S3 Investment Company, Inc. (Pink Sheets:SIVC) today announced that as part of the expansion of the company's subsidiary operations in China, a Redwood office has been established in Hong Kong. The new office will provide the company's Redwood subsidiaries another location in Asia to support the ongoing expansion of operations, including the work of its private equity fund, The Redwood Asia Fund, LP.
"Hong Kong is a vitally important market for Asian and global investment, and we are pleased to have established a physical presence for The Redwood Asia Fund in that city," said S3 Investment Company Chairman and CEO Jim Bickel. "The Hong Kong office is another positive step in the expansion of our Redwood subsidiary operations in China and other Asian markets. With offices in Beijing, Hong Kong, Ulaanbataar, Mongolia, and the United States, Redwood has the capabilities to provide services to an expanding client base. Our focus on Redwood Capital, The Redwood Asia Fund, and Redwood Medical also provides us with the impetus to undertake the planned re-branding of S3 under the Redwood name. We expect to announce the specifics of this initiative very shortly."
S3 recently posted its Annual Report for the period ended June 30, 2010 to the OTC Markets website at www.otcmarkets.com. By posting the Annual Report within the required timeframe, the Company has maintained its "Current Information" status through the site.
The Annual Report included updates on the activities of the company's subsidiaries operating in Asia, including: Redwood Capital's work on behalf of its current clients and the strengthening of its pipeline of additional projects; Redwood Medical's progress in securing additional regulatory approvals for the first product it will distribute in the China market; and the launch of The Redwood Asia Fund. The report also provides additional details on the workings of the Fund, which carries a two percent management fee and twenty percent carry and is designed to seek portfolio investments of small-medium-enterprises (SMEs) or formerly state-owned enterprises (SOEs) from Redwood Capital, Inc. and through established sources within China. The fund will provide viable exit strategies for its portfolio companies through Redwood Capital, Inc.'s network of partnerships such as investment banks, through either an APO (Alternative Public Offering) or an IPO (Initial Public Offering). Additional information on the Fund's goals, characteristics of its targeted portfolio companies and targeted market sectors and subsectors are included on page 6 of the Annual Report.
"I encourage all shareholders to read our posted Annual Report," said Mr. Bickel. "It provides more detailed information on all of our subsidiary operations, which is where the Company's revenues and assets are generated. The ongoing expansion of our subsidiary structure is providing Redwood with more opportunities in China and the other markets where these companies will operate, and we look forward to announcing additional information as the expansion continues."
To sign up to receive information by email directly from S3 Investment Company when new press releases, investor newsletters, SEC filings or other information is disclosed, please visit http://www.s3investments.com/investors/.
About S3 Investment Company, Inc.
S3 Investment Company, Inc. (http://www.s3investments.com) and its Redwood Group International subsidiary are focused on facilitating the success of several 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 http://www.redwoodcapinc.com. 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.