CBQ, Inc. Changes Its Name to China Direct Trading Corporation; China Direct Trading Acquires Souvenir Direct, Inc.Business Editors FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Dec. 9, 2003 CBQ See traffic engineering methods. , Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBQI) announced today that it has filed to change its name to China Direct Trading Corporation ("China Direct"). The company's common stock will continue to trade under the symbol CBQI.OB until a new stock trading symbol Trading symbol See: Ticker symbol is approved. In its first move to expand its market share China Direct has acquired all of the outstanding shares of Souvenir Direct, Inc., a trading company located in Ft. Lauderdale, Florida, that specializes in the importation and sale of items in the $250 billion dollar global souvenir, gift, novelty, and promotional products industries. The transaction had been previously announced on June 23, 2003, in the form of a Letter of Intent, and the final documentation on the transaction closed yesterday. Howard Ullman, formerly President of Souvenir Direct, has been named to the position of Chairman and Chief Executive Officer of the China Direct. Souvenir Direct, with distribution in 19 countries, obtains its goods from the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China (PRC) and a variety of Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. countries. Souvenir Direct currently provides a wide range of products to Fortune 500 companies and major mass retailers. The company's customers range from one of the largest discount retailers in the world to a large well-known entertainment conglomerate conglomerate, in business conglomerate, corporation whose asset growth, often very rapid, comes largely through the acquisition of, or merger with, other firms whose products are largely unrelated to each other or to that of the parent company. and include the top NASCAR NASCAR (National Association for Stock Car Auto Racing), organization that sanctions American stock-car races, est. 1948. It held its first race in Daytona Beach, Fla. licensees. The company recently patented and trademarked its innovative Spinner Key Ring(TM). Sales of this unique global souvenir are growing rapidly as a significant number of contracts are currently being signed with major retail chains and importers. "This is an exciting time to be leading a dynamic company poised for significant growth," said Ullman. "The PRC's international trade has grown approximately 15 percent per year since 1978 or more than 2,700 percent in aggregate. We believe that price advantages offered by manufacturing in the PRC will provide our U.S. customers with competitive marketing opportunities. Using the souvenir and promotional products industry as a catalyst, we will gradually expand our products into other geographic locations and target markets. "We believe," continued Ullman, "trade is a two-way street and we will assist U.S. companies seeking to export their products and services to China. Our mission is to deepen deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. deepen Verb to make or become deeper or more intense Verb 1. the commercial relationship between China, the world's fastest-growing economy, and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the world's largest economy." About China Direct Trading Corporation China Direct is a holding company with subsidiaries involved with trade between China and the world. The company is involved in the souvenir, gift, novelty, and promotional products industries. The company expects to develop other niche industries that benefit from the high quality and low prices China has to offer, as well as exporting U.S. goods to China. For additional information please visit www.chinadirecttradingco.com or call 954-474-0224. Securities Exchange Act of 1934 This release is comprised of information that must be interpreted in the context of all the information provided; accordingly, care should be exercised not to consider portions of this release out of context. This release is provided in compliance with Commission Regulation FD and contains certain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumption or future events or performance, are not statements of historical fact and may be "forward-looking statements." |
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