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CHINA NATURAL RESOURCES, INC. ANNOUNCES REGISTERED DIRECT PLACEMENT OF $3.27 MILLION OF COMMON SHARES AND PRIVATE PLACEMENT WARRANTS
HONG KONG, Feb. 16, 2024 /PRNewswire/ -- CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR) (the "Company") announced that it has entered into a securities purchase
About this update from China Natural Resources, Inc.
[{"type":"text","content":"HONG KONG, Feb. 16, 2024 /PRNewswire/ -- CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR) (the \"Company\") announced that it has entered into a securities purchase agreement with certain institutional investors for a registered direct placement of approximately $3.27 million of common shares, no par value, at a price of $2.20 per share. The Company will issue a total of 1,487,870 common shares to the institutional investors. In a concurrent private placement, the Company will also issue to the investors common share warrants (\"Warrants\") initially exercisable for the purchase of up to 1,115,903 common shares at an exercise price of $3.00 per share, which Warrants will have a term of 42 months from the date of issuance.\n\nThe net proceeds from this offering will be used for general working capital purposes. The completion of the offering is expected to occur on or about February 21, 2024, subject to the satisfaction of customary closing conditions.\nFT Global Capital, Inc. acted as the exclusive placement agent for the transaction.\nThe common shares are being offered through a prospectus supplement which is a part of the Company's effective shelf registration statement and the base prospectus contained therein. A shelf registration statement (SEC Filing No. 333-268454) relating to these securities has been filed with and was declared effective by the Securities and Exchange Commission (the \"SEC\") on February 10, 2023.\nA prospectus supplement related to the offering of the common shares will be filed with the SEC and may be obtained via the SEC's website at www.sec.gov. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and these securities cannot be sold in any state in which this offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.\nFor further details of this transaction, please see the Form 6-K to be filed with the SEC.\nAbout China Natural Resources:\nChina Natural Resources, Inc. (NASDAQ: CHNR) is currently a holding company that operates in two reportable operating segments: wastewater treatment and exploration and mining. Upon the completion of Precise Spa...