S3 Investment Company comments on the growth of BVI-owned Dalian Chuming

<ADMINNICENAME> — Tue, 23 Sep 2008 14:00:11 +0000

On September 15, the representative of the holding corporation S3 Investment Company, Inc. commented on the post reverse merger progress of Dalian Chuming, a client of S3’s wholly owned Redwood Capital subsidiary that now trades in the U.S. as Energroup Holdings Corporation, which assists private Chinese companies in accessing the U.S. capital markets through reverse mergers into public companies. The company participated in the transaction involving Dalian Chuming: Energroup Holdings Corporation is a Nevada corporation which acquired all of the issued and outstanding capital stock of Precious Sheen Investments Limited (PSI), a company registered in the British Virgin Islands and being the whole owner of China-based Dalian Chuming.

Under the terms of the reverse merger agreement, Redwood Capital was issued 428,095 shares of Energroup Holdings Corporation as the equity portion of its payment for advisory services provided as part of the Chuming transaction.

Institutional and accredited investors participated in a US$17.0 million private placement with Energroup Holdings Corporation, paying US$4.40 per share. At the placement price, the value of Redwood Capital’s equity position in Energroup Holdings Corporation would exceed US$1.8 million.

BVI Company News » Private Placement

S3 Investment Company comments on the growth of BVI-owned Dalian Chuming