HONG KONG, April 11, 2016 /PRNewswire/ -- CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR),
a company based in the People's Republic
of China (the "Company"), today announced that, on
April 6, 2016, it received written
notice from the Listing Qualifications department of The Nasdaq
Stock Market (the "Notice") stating that, based upon the closing
bid price of the Company's common shares during a recent 10
consecutive business day measurement period, the Company has
regained compliance with the $35
million market value of listed securities requirement set
forth in Nasdaq Rule 5550(b)(2), and the matter has been
closed.
About China Natural Resources, Inc.:
China Natural Resources, Inc., a British Virgin Islands corporation, through
its operating subsidiaries in the
People's Republic of China, is currently engaged in the
acquisition and exploitation of mining rights, including the
exploration, mineral extraction, processing and sale of iron, zinc
and other nonferrous metals, extracted or produced at mine
primarily located in Anhui
Province in the PRC. Due to the depressed market price of
metals, it is currently not economical to engage in metal mining
activities and, accordingly, effective December 27, 2015, mining operations at the
Company's sole current mining property were temporarily
suspended.
Forward-Looking Statements:
This press release includes forward-looking statements within
the meaning of federal securities laws. These statements include,
without limitation, statements regarding the intent, belief and
current expectations of management with respect to the Company's
policies regarding investments, dispositions, financings, conflicts
of interest and other matters; and trends affecting the Company's
financial condition or results of operations. Forward-looking
statements are not a guarantee of future performance and involve
risks and uncertainties, many of which are outside of our control,
and actual results may differ materially from those in the
forward-looking statement. Among the risks and uncertainties that
could cause our actual results to differ from our forward-looking
statements are: uncertainties associated with metal price
volatility and whether metals can be mined on an economical basis
in the future; uncertainties relating to our business operations
and operating results; uncertainties regarding the governmental,
economic and political environment in the
People's Republic of China; uncertainties associated with
the Company's reliance on third-party contractors and other risks
detailed from time to time in the Company's filings with the
Securities and Exchange Commission, including without limitation
the information set forth in our Annual Report on Form 20-F under
the heading "Risk Factors". While management believes that its
assumptions forming the bases for forward looking statements are
reasonable, assumed facts or bases generally vary from actual
results, and there can be no assurance that the expectations or
beliefs expressed in forward looking statements will be achieved or
accomplished.
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SOURCE China Natural Resources, Inc.