China Valves Technology Inc. (CVT) has entered into definitive agreements with certain accredited investors to sell in a registered direct offering an aggregate of 2,414,113 shares of its common stock at a price of USD 9.00 per share for gross proceeds of approximately USD 21.7 million.

In addition, the Company will issue at closing to the investors warrants to purchase 362,116 shares of common stock, in the aggregate, at a price of USD 9.00 per share, exercisable for 30 days beginning on the date of the initial issuance of the warrants.

Combined with the closing of the Company's initial registered direct offering on 28 December 2009, the Company will receive aggregate gross proceeds of approximately USD 24.7 million, which will be used for working capital and certain identified acquisitions.