New CDII Director Added. Welcome! Mr. Kong Tung!

Kong Tung
DIRECTOR
Mr. Kong Tung, age 58,  is appointed a director of our company to hold office until the next annual meeting of shareholders and until his successor is duly elected and qualified or until his resignation or removal. The board of directors appointed Mr. Tung in connection with its approval of the acquisition of Beauty East, the recognition of the importance of our magnesium segment on our business, his experience in managing magnesium production facilities and the contributions he can make to our strategic direction. Mr. Tung has been the president and a member of the board of directors of Golden Magnesium since 2008.  Mr. Tung has served as the president of Shanxi Golden Trust Yiwei Magnesium Industry Corp. (“Golden Trust”) since 2003 which owns and operates a magnesium production facility in China.  Golden Trust is owned or controlled by Yuwei Huang, a member of our board of directors. Mr. Tung has been the president of Beauty East since 1995 and its chairman since 1999. Beauty East owns a 48% interest in Golden Magnesium. Mr. Tung graduated from Shanxi University, China in 1978 with a degree in engineering.

Magnesium Pricing Update: Week of 9/30/2011

Current Market Price for Mg min 99.8%


FOB China Port* Week 9/26/2011 to 9/30/2011 $3210 per ton
Ex Works Shanxi** Week 9/26/2011 to 9/30/2011 RMB 18,000 per ton

*FOB China Port – Based on ex-work basis, plus inland freight, misc port expenses,

and 10% export tariff.
**Ex Works Shanxi – Includes 17% VAT

Disclaimer: Amounts reflect the average weekly pricing obtained from third party sources and do not reflect IMG’s actual sales prices which may vary.

http://www.magnesiumgroup.com/magnesium-pricing

China Vesting Issues Update on China Direct Industries, Inc.

Press Release Source: China Vesting On Thursday September 29, 2011, 9:32 am EDT
LOS ANGELES, CA–(Marketwire -09/29/11)- China Vesting, a leading investment newsletter dedicated to Chinese public companies listed in the United States, today announced that is has issued an update on China Direct Industries, Inc. (NASDAQ: CDII – News). The update is available here: http://chinavesting.com/top-china-stock-pick-articles/Major-Insider-Buys-at-China-Direct-2011-09-29.htm

China Direct Industries, Inc. insiders have bought a total of 219,000 shares in the open market between 9/21/2011-9/26/2011:

Name Position Date Shares Price Total Cost
Andrew Wang CFO / Exec. VP 9/26/2011 15,000 $0.86 $12,900
Adam Wasserman Director 9/23/2011 14,000 $0.85 $11,900
Wang Yuejian CEO 9/22/2011 150,000 $0.87 $130,500
Sheldon Steiner Director 9/21/2011 20,000 $0.90 $17,940
Philip Shen Director 9/22/2011 20,000 $0.86 $17,190
219,000 $190,430
China Direct Industries, Inc., is a U.S. based company that sources, produces and distributes industrial commodities in China and the Americas and provides business and financial consulting services. Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, China Direct Industries’ unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets.

China Direct Industries Completes the Sale of its 51% Stake in Shanxi Pan Asia Magnesium Company for $3 Million

DEERFIELD BEACH, FL–(8/911) – China Direct Industries, Inc. (“China Direct Industries”) (NASDAQ:CDII), a U.S. based company that sources, produces and distributes industrial products in China and the Americas in two core business segments, announced today that it has completed the sale of its 51% stake in Shanxi Pan Asia Magnesium Company (“Pan Asia”) for $3.05 million in cash to Bloomgain Investment Company, Ltd. (“Bloomgain”), a privately held British Virgin Island company.

 

The sale of Pan Asia is part of management’s overall plan to focus its Magnesium segment operations on the management of facilities previously owned or controlled by Yuweii Huang, a member of China Direct Industries’ board of directors and its executive vice president – magnesium.   Management intends to use the proceeds from this sale for general working capital as well as to expand its magnesium operations in China and its U.S. based commodities trading operations as it continues to ship iron ore to China from Mexico and begins shipping from South America.

 

Commenting on the sale of Pan Asia Dr. James Wang, Chairman and CEO of China Direct Industries, Inc., stated “We are pleased to have concluded this sale as we move forward with the expansion of our Magnesium segment in partnership with Mr. Huang.  This infusion of capital will provide us with further financial flexibility as we strengthen our magnesium business and build our ore distribution capabilities in Mexico and South America in the coming quarters.  We look forward to putting this money to work as we position our company for growth in fiscal 2012 and beyond.”

 

 

About China Direct Industries, Inc.

China Direct Industries, Inc. (NASDAQ:CDII – News), is a U.S. based company that sources, produces and distributes industrial commodities in China and the Americas and provides business and financial consulting services. Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, China Direct Industries’ unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about China Direct Industries, please visit http://www.cdii.net.

 

DISCLOSURE NOTICE:

 

In connection with the safe harbour provisions of the Private Securities Litigation Reform Act of 1995, China Direct Industries, 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 concerning our ability to execute on our business plan in our magnesium and basic materials segments.

 

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 Report on Form 10-K for the fiscal year ended September 30, 2010.

 

Contact Information:

 

China Direct Industries, Inc.

Richard Galterio or Lillian Wong

Investor Relations

Phone: 1-877-China-57

Email: richard.galterio@cdii.net

lillian.wong@cdii.net

China Direct Industries to Present at the Rodman & Renshaw Annual Global Investment Conference in New York on September 12, 2011

Deerfield Beach, FL – September 7, 2011 – China Direct Industries, Inc. (“China Direct Industries”) (NASDAQ: CDII), a U.S. owned company that sources, produces and distributes industrial commodities in China and the Americas and provides business and financial consulting services, announced today that the Company will present at the Rodman and Renshaw Annual Global Investment Conference to be held September 11-13 at the Waldorf Astoria Hotel in New York City.

China Direct Industries is scheduled to present on Monday, September 12, 2011 at 3:40 PM.

Conference participation is by invitation only and registration is mandatory.  For more information on the conference or to schedule a one-on-one meeting, please contact your Rodman and Renshaw representative or visit www.rodm.com.

 

About China Direct Industries, Inc.

China Direct Industries, Inc. (NASDAQ: CDII), is a U.S. based company that sources, produces and distributes industrial commodities in China and the Americas and provides business and financial consulting services. Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, China Direct Industries’ unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about China Direct Industries, please visit http://www.cdii.net.

Contact Information:

 

For the Company:

 

China Direct Industries, Inc.

Richard Galterio or Lillian Wong

Investor Relations

Phone: 1-877-China-57

Email: richard.galterio@cdii.net 

lillian.wong@cdii.net


							

China Direct Industries in Definitive Agreement to Acquire 100% of Golden Trust Magnesium Industry Co., Ltd. 80% of Lingshi Xinghai Magnesium Industry Co., Ltd.

DEERFIELD BEACH, FL–(9/6/11) – China Direct Industries, Inc. (“China Direct Industries”) (NASDAQ:CDII), a U.S. based company that sources, produces and distributes industrial products in China and the Americas in two core business segments, announced today that it has entered into a series of agreements to acquire a 100% ownership interest in Golden Trust Magnesium Industry Co., Ltd. (“Golden Trust”) and an 80% ownership interest in Lingshi Xinghai Magnesium Industry Co., Ltd. (“Lingshi Magnesium”).  The acquisitions are part of management’s ongoing plan to further consolidate its magnesium holdings as well as acquire additional facilities owned in whole or in part by Mr. Yuwei Huang, a member of the board of directors of China Direct Industries.

Under the terms of the agreements China Direct Industries will issue up to 18.2 million shares of its common stock, transfer its $4.7 million interest in its subsidiary Excel Rise Technology Co., Ltd., and pay $4.8 million in cash or through the repayment of one of its intercompany loans to make the acquisitions in a deal totaling approximately $26.7 million. Closing of the acquisitions is conditioned upon (i) approval of the issuance of the common stock constituting the stock consideration provided for in the agreements to acquire these companies  and in accordance with NASDAQ Market Place Rules and Regulations;  (ii) the absence of any order or injunction of a court of competent jurisdiction that prohibits the consummation of the acquisitions, (iii) the absence of certain governmental restraints, and (iv) the accuracy of the representations and warranties of each party. A summary of the agreements is provided in a Form 8-K China Direct Industries filed with the Securities and Exchange Commission on September 6, 2011.

Upon completion of the two acquisitions, China Direct Industries annual magnesium production capacity will increase by 30,000 metric tons bringing the total magnesium production capacity at China Direct Industries to 90,000 metric tons. At this production capacity, China Direct Industries would be among the world’s largest magnesium producers.  The facilities at Golden Trust and Lingshi Magnesium could be expanded to increase production capacity should demand levels warrant future expansion.   Upon completion of the acquisitions, management of China Direct Industries intends to improve many aspects of its operations through the synergistic alignment of all purchasing, sales and administrative functions among its magnesium production facilities through the centralized management of Yuwei Huang and Kong Tung.

Commenting on the agreement Dr. James Wang, Chairman and CEO of China Direct Industries, Inc., stated “We are excited to move forward with our consolidation and acquisition plan through the acquisitions of Golden Trust and Lingshi Magnesium.  We believe the addition of these magnesium production facilities will further solidify our place among the world’s leading magnesium producers. We continue to position our company to meet our expectations for the future in this important industry, poised to take advantage of the improving demand and pricing trends to fuel substantial growth in the coming years.”

About China Direct Industries, Inc.

 

China Direct Industries, Inc.   (NASDAQ: CDII – News), is a U.S. based company that sources, produces and distributes industrial commodities in China and the Americas and provides business and financial consulting services.   Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, China Direct Industries’ unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about China Direct Industries, please visit http://www.cdii.net.

DISCLOSURE NOTICE:

In connection with the safe harbour provisions of the Private Securities Litigation Reform Act of 1995, China Direct Industries, 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 concerning the expected completion of the acquisition of Golden Trust and Lingshi Magnesium, our beliefs concerning our position in the magnesium production industry, and the expected demand, pricing and operating results for our magnesium segment and our rates of magnesium production.

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 Report on Form 10-K for the fiscal year ended September 30, 2010.

Contact Information:

China Direct Industries, Inc.

Richard Galterio or Lillian Wong

Investor Relations

Phone: 1-877-China-57

Email: richard.galterio@cdii.net

lillian.wong@cdii.net