Gulf Resources, Inc. Regains Compliance with Nasdaq Shareholder Approval Requirements
January 24 2020 - 8:30AM
Gulf Resources, Inc. (the "Company"), a leading manufacturer of
bromine, crude salt and specialty chemical products in China, today
announced that on January 23, 2020, it received a letter from the
Nasdaq Stock Market Listing Qualifications Staff (the “Staff”)
dated January 23, 2020 notifying that the Company has regained
compliance with the shareholder approval requirements set forth in
Nasdaq Listing Rule 5635(c) in connection with shares issued to a
consultant, based on the Staff’s review of the Company’s submitted
materials.
As previously disclosed in the Company’s Current Report on Form
8-K filed on September 19, 2019, the Company was notified by Nasdaq
on September 13, 2019 that it did not comply with Nasdaq’s
shareholder approval requirements set forth in Nasdaq Listing Rule
5635(c) and the Company was required to submit a plan of compliance
by October 28, 2019.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through three wholly-owned
subsidiaries, Shouguang City Haoyuan Chemical Company Limited
("SCHC"), Shouguang Yuxin Chemical Industry Co., Limited ("SYCI"),
and Daying County Haoyuan Chemical Company Limited (“DCHC”). The
company believes that it is one of the largest producers of bromine
in China. Elemental Bromine is used to manufacture a wide variety
of compounds utilized in industry and agriculture. Through SYCI,
the Company manufactures chemical products utilized in a variety of
applications, including oil and gas field explorations and
papermaking chemical agents, and materials for human and animal
antibiotics. DCHC was established to further explore and develop
natural gas and brine resources (including bromine and crude salt)
in China. For more information,
visit www.gulfresourcesinc.com.
Forward-Looking Statements
Certain statements in this news release contain forward-looking
information about Gulf Resources and its subsidiaries business and
products within the meaning of Rule 175 under the Securities Act of
1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and
are subject to the safe harbor created by those rules. The actual
results may differ materially depending on a number of risk factors
including, but not limited to, the general economic and business
conditions in the PRC, future product development and production
capabilities, shipments to end customers, market acceptance of new
and existing products, additional competition from existing and new
competitors for bromine and other oilfield and power production
chemicals, changes in technology, the ability to make future
bromine asset purchases, and various other factors beyond its
control. All forward-looking statements are expressly qualified in
their entirety by this Cautionary Statement and the risks factors
detailed in the company's reports filed with the Securities and
Exchange Commission. Gulf Resources undertakes no duty to revise or
update any forward-looking statements to reflect events or
circumstances after the date of this release.
CONTACT: Gulf Resources, Inc.
Web: |
http://www.gulfresourcesinc.com |
|
Director of Investor Relations |
|
Helen Xu (Haiyan Xu) |
|
beishengrong@vip.163.com |
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