China Natural Resources, Inc. Announces The Closing Of $7.3 Million Registered Direct Offering

About this update from China Natural Resources, Inc.

[{"type":"text","content":"HONG KONG, Jan. 22, 2021 /PRNewswire/ -- CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR) (the \"Company\") today announced that it closed the registered direct offering of approximately $7.3 million of common shares at a price of $1.85 per share on January 22, 2021, as previously announced on January 20, 2021. The Company issued a total of 3,960,000 common shares to the institutional investors participating in the offering. In a concurrent private placement, the Company also issued warrants (\"Warrants\") to the investors, initially exercisable for the purchase of up to 1,584,000 common shares at an exercise price of $2.35 per share, which Warrants have a term of 36 months from the date of issuance. The net proceeds from this offering will be used for general corporate purposes.\nFT Global Capital, Inc. acted as the exclusive placement agent for the transactions. \nMorgan, Lewis & Bockius LLP acted as counsel to the Company and Schiff Hardin LLP acted as counsel to the placement agent in connection with the transactions. PacGate Law Group provided due diligence services to the placement agent in connection with the transactions.\nThe common shares described above (but not the warrants or the common shares underlying the warrants) were offered and sold by the Company in a registered direct offering pursuant to a \"shelf\" registration statement on Form F-3 (Registration No. 333-233852), declared effective by, the Securities and Exchange Commission (the \"SEC\") on November 20, 2019 and including an accompanying prospectus supplement dated January 20, 2021. The offering of the common shares only was made by means of the prospectus supplement. The prospectus supplement and accompanying prospectus relating to the registered direct offering was filed with the SEC and is available on the SEC's website located at http://www.sec.gov.\nThe warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the \"Act\"), and Regulation D promulgated thereunder and, along with the common shares underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and the underlying common shares may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from ...

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