PLANTATION, Florida, May 24, 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 with a Dominican Republic-based company for the monthly purchase of 100,000 tons of metallurgic-grade bauxite.
The terms of the offer require CD International to purchase 100,000 metric tons of metallurgical-grade bauxite per month, for a period of 12 months. The total shipment will be 1.2 million metric tons. This initial 12-month contract is valued at approximately US$37 million on the basis of FOB price at Cabo Rojo, Dominican Republic.
Dr. James Wang, Chairman and CEO of CD International, commented, "We are pleased to enter into this agreement on the heels of signing a separate offer to purchase copper cathodes, valued at approximately $330 million. As part of sourcing a variety of industrial commodities for our clients in China, we are advancing our newly established business model and leveraging our existing connections in China. Upon a successful delivery of bauxite to our clients in China, we believe we will enter a new level of business. Under our new mineral trading model, we are confident we can create a profit center while limiting exposure of our capital to market risk. Importantly, we are also actively pursuing new mineral suppliers for our clients in China, South America and North America. As we move forward, we believe we are well-positioned to take advantage of increasing demand of industrial commodities in the years to come."
About CD 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, 2016.
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SOURCE CD International Enterprises, Inc.