CDSG Cancels Note and Secures $250,000 in Capital Investment

Rhea-AI Summary

On March 15, 2022, China Dongsheng International (OTC: CDSG) announced a $250,000 secured investment from an institutional lender with a 6% interest rate over two years. Additionally, the company canceled $75,000 of its outstanding convertible debt. CDSG's Chairman emphasized plans for expansion into near-production oil projects and alternative energy initiatives. The U.S. is poised to lead in oil output in 2022, highlighting the need for domestic production and alternatives. Further updates on the company's progress are expected soon.

Positive

• Secured $250,000 investment from an institutional lender.
• Canceled $75,000 of outstanding convertible debt.

Negative

• None.

Las Vegas, NV, March 15, 2022 (GLOBE NEWSWIRE) -- China Dongsheng International Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to provide an additional corporate update.

On March 15, 2022, the Company received an investment in the amount of $250,000 from an institutional lender. The secured 2-year note carries a 6% interest rate and is non-convertible.

On March 14, 2022, the company reached an agreement with an existing convertible debt holder to cancel $75,000 of their outstanding note.

According to the U.S. Energy Information Administration, to date in 2022 the U.S. is on track to become the world’s leader in oil output and the impact of recent global market changes have put into focus the need for increased reliance on domestic production, as well as alternatives to fossil fuel related transportation.

CDSG’s Chairman, Harp Sangha, stated "To this end, we plan to position the company and our shareholders for further expansion into additional near-production oil projects and exciting alternative energy projects in the coming weeks."

The company plans to provide further timely updates to shareholders about our progress in the near future.

About the Company: China Dongsheng International Inc. (OTC Markets: CDSG) is an emerging company based in Las Vegas, Nevada. The company's principal activity is seeking opportunities in both public and private companies in the technology, natural resource and various other sectors.

Contact:
Harp Sangha-Chairman                        
1-702-595-2247
www.cdsgholdings.com

Company Disclaimers: As a "penny stock" Company, within the meaning of federal and state securities law, China Dongsheng International Inc. may not avail itself of the Safe Harbor provisions as identified in the Private Securities Litigation Reform Act of 1995. However, CDSG provides the following disclaimer and warning to protect our shareholders, prospective investors and the public at large by alerting them to the risks and uncertainties involved with any investment, and the need to perform their own due diligence and assessment.

Forward-Looking Statements:

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission.

FAQ

What recent financial developments occurred for CDSG on March 15, 2022?

On March 15, 2022, CDSG secured a $250,000 investment and canceled $75,000 of outstanding convertible debt.

What are CDSG's plans for future projects?

CDSG plans to expand into near-production oil projects and explore alternative energy initiatives.

What is the interest rate on the investment received by CDSG?

The investment carries a 6% interest rate.

What does the recent press release indicate about the U.S. oil market?

The press release highlighted that the U.S. is on track to become the world leader in oil output in 2022.