Gulf Resources Announces the Signing of Agreements to Acquire Crude Salt Fields
Gulf Resources, Inc. (GURE)
US:NASDAQ Investor Relations:
gulfresourcesinc.com
Company Research
Source: GlobeNewswire
SHOUGUANG, China, July 03, 2024 (GLOBE NEWSWIRE) -- Gulf Resources, Inc. (Nasdaq: GURE) (“Gulf Resources”, “we,” or the “Company”), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced that its wholly owned subsidiary, Shouguang Hengde Salt Industry Co. Ltd (“SHSI”), entered into a series of agreements to acquire crude salt fields for an aggregate price of RMB280,762,000 (approximately US$38,619,257 based on the current exchange rate on July 3, 2024). The purchase includes 5 parcels of crude salt fields with a total size of 5,141,000 square meters (approximately 1,270 acres). 80% of the transfer or RMB224,609,600.00 (approximately USD $30,895,406) will be paid in cash upon signing of the agreements. The remaining 20% will be paid in shares of common stock of the Company within three months from the date of the agreements after SHSI has inspected and accepted the crude salt fields in writing. The acquisitio
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News
- Gulf Resources Announces Receipt of Nasdaq Non-Compliance NoticeGlobeNewswire
- Gulf Resources Receives Extension from NASDAQ to Regain Compliance [Yahoo! Finance]Yahoo! Finance
- Gulf Resources Receives Extension from NASDAQ to Regain ComplianceGlobeNewswire
- Gulf Resources to buy crude salt fields in deals totaling $39M [Seeking Alpha]Seeking Alpha
- Gulf Resources Announces the Signing of Agreements to Acquire Crude Salt Fields [Yahoo! Finance]Yahoo! Finance
GURE
Sec Filings
- 9/27/24 - Form 10-K
- 8/22/24 - Form 8-K
- 7/2/24 - Form 8-K
- GURE's page on the SEC website