CD International Enterprises Expands Its Ore Distribution Business into Ecuador by Beginning Delivery of 10,000 Metric Tons of Ecuadorean Iron Ore to Major Chinese Trading Company
Companies in Negotiations for Ongoing Iron Ore Supply Agreement out of Ecuador
DEERFIELD BEACH, Fla., Feb. 20, 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 that its CDII Minerals subsidiary has begun delivery of 10,000 metric tons of iron ore produced in Ecuador to a major Chinese trading company. The company expects to complete delivery of the iron ore, to be shipped out of the port of Guayaquil Ecuador, in the next two weeks.
CDII Minerals purchased the 10,000 metric tons of iron ore through a subsidiary of a local Ecuadorean mining operation and upon successful completion of this shipment CDII Minerals expects to complete negotiations for an ongoing distribution arrangement with the Chinese trading company to ship iron ore from Ecuador into China on a monthly basis. Management of CDII Minerals believes it will have the capability to source and distribute approximately 30,000 metric tons of iron ore per month out of Ecuador for delivery to the Chinese trading company upon reaching a final distribution agreement.
Commenting on the expansion into Ecuador, Seth Berkowitz, Vice President of CDII Minerals, stated, "Expansion into Ecuador represents another major step forward for our company. By continuing to solidify a footprint in Latin America we can methodically build our distribution capabilities enabling us to become a distributor of choice into the China marketplace. We intend to work diligently to complete the next steps toward an ongoing relationship with our Chinese customer to help us rapidly build our revenue from this country and build this segment of CD International's business into a profitable world class organization."
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 completion of shipments from Ecuador and a distribution agreement for expected future shipments from Ecuador.
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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CD International Enterprises, Inc.
SOURCE CD International Enterprises, Inc.
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