CD International Enterprises Completes the Trial Sale of 7,000 Metric Tons of Chilean Iron Ore
DEERFIELD BEACH, Fla., Feb. 4, 2013 /PRNewswire/ -- CD International Enterprises, Inc. ("CD International") (OTCQB: CDII), a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas and provides business and financial corporate consulting services, today announced the completion of a trial sale of 7,000 metric tons of its Chilean iron ore by its CDII Minerals subsidiary shipped out of the port of Coquimbo Chile.
CDII Minerals arranged for the sale locally with a Chilean company to an ultimate end customer in China. The sale was subject to completion of the loading of the iron ore onto the vessel and inspection which was completed on January 28, 2013. CDII Minerals received 95% of the contract price on February 1, 2013 and will receive the remaining 5% upon the vessel being unloaded in China. This completion of this sale represents the first successful transaction completed by CDII Minerals out of Chile and paves the way for future shipments.
Commenting on the sale, Seth Berkowitz, Vice President of CDII Minerals, stated, "We are pleased to continue to move forward with the resumption of our commodities business in Latin America. Within the last three months, this marks the second transaction we have completed of our own ore and the third transaction overall as we look to build these operations for the future. The completion of these recent sales coupled with our credit facilities provides us with strengthening financial flexibility to help us grow this business and place our company in a position to achieve sustainable growth for the future. As spot market prices have risen significantly in recent months, we see tremendous opportunities for us and we intend to work diligently to capitalize on them."
About CD International Enterprises, Inc.
CD International Enterprises, Inc. (OTCQB: CDII), is a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas and provides business and financial corporate consulting services. Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, CD International's unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about CD International, please visit http://www.cdii.net.
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, CD International Enterprises, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations regarding future shipments and growth in our South America operations and our future financial position.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2012.
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