PLANTATION, Florida, May 10, 2017 /PRNewswire/ --
CD International Enterprises, Inc. ("CD International, or the Company") (OTC: CDII), a U.S.-based company that sources industrial commodities and provides business and management corporate consulting services, today announces that it has entered into a full corporate offer to purchase 5,000 tons of copper cathodes (99.99% Cu) per month with a Tanzania-based company.
Terms of the offer require CD International to purchase 5,000 metric tons of copper cathodes (99.99% Cu) per month over a period of 12 months. The total shipment over a period of 12 months will be 60,000 metric tons of copper cathodes. Based on the current copper future price on the London Metal Exchange, this initial 12-month contract of 60,000 metric tons of copper cathodes is valued at approximately US$330 million.
Dr. James Wang, Chairman and CEO of CD International, commented, "We are very excited to enter this full corporate offer as our Chinese clients are ready to make purchases. China imported 3.63 million metric tons of refined copper in 2016, just shy of the previous year's record 3.68 million metric tons. To fulfill a niche market and facilitate smooth transactions, we have been working very hard in the past several years to strategically place ourselves between our suppliers and our buyers in China. This newly sourced supply could provide us with a stable supply of copper cathodes for our clients in China. We expect to commence the first shipment for our clients within months. More importantly, the new business vertical is expected to provide substantial profits for our shareholders in years to come."
About C D International Enterprises, Inc.
CD International Enterprises, Inc. (OTC: 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. ("CDII") 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 CDII and the completion of agreements with other potential investors and partners for this effort, our ability to arrange financing, our expectations regarding profits, if any, and future operating results of CDII and growth in our operations.
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.
E & E Communications
SOURCE CD International Enterprises, Inc.