DEERFIELD BEACH, Florida, May 11, 2016 /PRNewswire/ --
CD International Enterprises, Inc. ("CD International") (OTC: CDII), a U.S.-based company that sources industrial commodities and provides business and management corporate consulting services, today announced that its wholly owned subsidiary, China Manor Assets Investment Management Company, Limited ("CMAIM") entered a letter of intent to purchase 20% equity in Bridgewater Warranty Group, Limited (BWG), for a consideration of $1 million. BWG intends to domicile its operations in the colony of Bermuda.
Bridgewater Warranty Group, Limited, DBA Warrnty-One.com, is a company with a global vision for a better warranty program for all household electronics under one umbrella. Every aspect of BWG has been designed to deliver exceptional results. BWG embraces customer goals and focuses on its proven methods by giving them the results they need, quickly and efficiently. BWG's focused approach is to revitalize existing service plan programs and to develop new service capabilities to give customers peace of mind.
With the equity investment by CMAIM, CMAIM will receive an exclusive right to market and sell BWG warranty services in China.
Commenting on the acquisition, Dr. James Wang, Chairman and CEO of CD International said, "With this equity investment, we believe that CMAIM could launch a new venture in China to expand its service offering beyond financing lease business in China. BWG's business model is unique in terms of generating substantial cash flow with very little upfront investment. We believe that it could be working out very well in China, as we see there is a great demand for such services in the market place. The venture could be another profit center for our corporation."
About CD International Enterprises, Inc.
CD International Enterprises, Inc. (OTCQB: CDII), is a U.S.-based company that sources industrial commodities and provides business and management corporate consulting services. 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.
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, 2015.
CD International Enterprises, Inc.
Phone: 1-954-363-7333, Ext. 325
SOURCE CD International Enterprises, Inc