Gulf Resources Provides Updates on the Rectification of its Bromine Business
January 29 2018 - 8:30AM
Gulf Resources, Inc. (Nasdaq:GURE) ("Gulf Resources" or the
"Company"), a leading manufacturer of bromine, crude salt,
specialty chemical products, and natural gas in China, today
announced updates to the rectification of its bromine business.
Since the beginning of November 2017, Gulf
Resources has been working diligently to follow all of the steps
required to rectify its bromine operations.
In the beginning of January, 2018, Mr. Liu
Xiaobin, the President and CEO, Mr. Li Min, the CFO, Mr. Miao
Naihui, the COO, went on an inspection tour of the bromine plants
accompanied by a U.S. based consultant.
The consultant took photographs of the
facilities and wrote a report accompanying the photographs.
The company has placed this report and the
photographs on its website following the link
below: http://www.gulfresourcesinc.com/corporate-ppt.html
As our U.S. based consultant stated in the
report,
“As can be
seen from the photos in this report, Gulf Resources has spent a
considerable amount of money in the past two months in performing
the rectification of its bromine mines and factories. While there
are no guarantees, management feels confident that the government
will approve the rectification of the factories and mines. The
company still believes it will be able to begin bromine operations
step by step shortly after the Chinese New Year.”
The company encourages investors to review the
report on the website so they can see the considerable amount of
work that has already been performed.
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 risk 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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