Gulf Resources Closes $25.0 Million Private Placement Transaction
The Company plans to use the proceeds of the private placement to acquire additional bromine and crude salt production assets, as well as for general corporate purposes such as working capital.
"We are glad to see the swift and successful closing of the recent private
placement transaction and the support from several acknowledged institutional
investors. The proceeds will strengthen our balance sheet and help us expand
our footprint through increased production capacity as we strive to cement our
position as the largest bromine and crude salt producer in
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned subsidiaries,
Shouguang City Haoyuan Chemical Company Limited ("SCHC") and Shouguang Yuxin
Chemical Industry Co., Limited ("SYCI"). The Company believes that it is one
of the largest producers of bromine in
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.
For more information, please contact: Gulf Resources, Inc. David Wang, VP of Finance Email: email@example.com Helen Xu Email: firstname.lastname@example.org Web: http://www.gulfresourcesinc.cn/ CCG Investor Relations Mr. Crocker Coulson, President Tel: +1-646-213-1915 Email: email@example.com Ms. Linda Salo, Senior Financial Writer Tel: +1-646-922-0894 Email: firstname.lastname@example.org Web: http://www.ccgirasia.com/
SOURCE Gulf Resources, Inc.