DEERFIELD BEACH, Florida – September 24, 2015 – CD International Enterprises, Inc. (“CD International”) (OTC: CDII), a U.S.-based company that sources and distributes industrial commodities in China and the Americas and provides business and management corporate consulting services, today announced that CDI Shanghai Management Company, a wholly owned subsidiary of CDII International, has entered an agreement with HK International Finance & Investment Group Limited for a potential acquisition of one of wholly owned subsidiaries of HK International Finance & Investment Group Limited.
The targeted holding company that CD International plans to acquire is based in Hong Kong with diversified operations in service industries including hospitality, health endowment, and construction design. According to unaudited financial statements, the targeted holding company generated over $25 million in consolidated revenues and over $6 million in consolidated net income in the calendar year of 2014.
Management has started due diligence process and plan to finish auditing of two year financial statements for the targeted holding company by the end of December 2015. Management expects to close the acquisition upon satisfactory completion of due diligence and auditing of two year financial statements of the targeted holding company.
Dr. James Wang, Chairman and CEO of CD International commented on the agreement, “One of management’s focuses on growing the company again is growth through merger and acquisition. Management is actively looking for merger and acquisition opportunities that align with our strategic priorities. Management believes the successful acquisition will significantly accelerate our growth and profitability and substantially add values for our shareholders for years to come.”
About CD International Enterprises, Inc.
CD International Enterprises, Inc. (OTC: CDII), is a U.S.-based company that sources and distributes industrial commodities in China and the Americas 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, 2014.
CD International Enterprises, Inc.
Phone: 1-954-363-7333 Ext. 325