Business News

Consolidated Mercantile Incorporated completes sale of shares of Polyair Inter Pack Inc.

Wednesday 02. January 2008 - Consolidated Mercantile Incorporated ("CMI" the "Company") announced today that it has completed a private sale of all of its share holdings in Polyair Inter Pack Inc. ("PPK") to Glencoe Skydome Holdings, L.P., an affiliate of Glencoe Capital LLC ("Glencoe").

The sale of 1,549,845 common shares of PPK was completed for proceeds of US$6,168,383.10. The transaction, which has been under active consideration as part of the Board’s continuing evaluation of potential strategies to maximize shareholder value, provides the Company future opportunity and potential.

CMI is a management holding company which effects its investment strategy through investment in, management of and merchant banking to its core strategic industries.