CD International Enterprises, Inc. (OTCPK:CDII) entered into a letter of intent to acquire EM Resource Enterprises, Inc. from Manuel Mustafa for $15.4 million on September 15, 2014. CD International Enterprises, Inc. (OTCPK:CDII) entered into a share exchange agreement to acquire EM Resource Enterprises, Inc. from Manuel Mustafa for $15.4 million on September 30, 2014. The consideration includes payment of $2 million in promisory note payable in three years and $13.4 million convertible preferred stock. The convertible preferred stock can be converted common stock in three years after the completion of the acquisition. EM Resource generated revenues of $50 million in year ending December 31, 2013 and $11.5 million in shareholder equity as of June 30, 2014. Manual Mustafa will be Director of CD International Enterprises and President of CDII Minerals, Inc. The transaction was unanimously approved by Board of Directors of CD International Enterprises. The transaction is expected to close on September 30, 2014.

CD International Enterprises, Inc. (OTCPK:CDII) cancelled the acquisition of EM Resource Enterprises, Inc. from Manuel Mustafa on January 8, 2015.