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Gulf Resources Effects a One-For-Four Reverse Stock Split

编辑:K8 日期:2019-01-11

NEW YORK and WEIFANG, China, Oct. 9 /PRNewswire-Asia-FirstCall/ -- Gulf Resources, Inc. (OTC Bulletin Board: GFRE, GRUS) ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, announced today that the Company will effect a one-for-four reverse split of the Company’s common stock and trade on the Over the Counter Bulletin Board under the new ticker symbol "GRUS.OB" effective at the open of the market on October 12, 2009, so that every four shares of common stock before the reverse stock split shall represent one share of common stock after the reverse stock split. As a result of the reverse split, the Company will have approximately 30,542,211 shares of common stock issued and outstanding.

"The reverse stock split is an important step in order to meet the minimum share price requirements for uplisting our shares to NASDAQ. We believe listing our shares on NASDAQ will better reflect the true value of our Company and also provide our stock with increased liquidity, as more institutions are able to invest in companies trading on a senior stock market," said Mr. Xiaobin Liu, Chief Executive Officer of Gulf Resources. "Therefore, we strongly believe that these actions are in the best interest of the Company and our shareholders."

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 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 & gas field explorations and as AAAAAAAAAAA chemical agents. For more information about the Company, please visit http://www.gulfresourcesinc.cn

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.

For more information, please contact:

Gulf Resources, Inc.

David Wang, VP of Finance

E-mail: davidw@gulfresourcesinc.cn

gfre.2008@vip.163.com

Helen Xu

E-mail: xuhy@gulfresourcesinc.cn

beishengrong@vip.163.com

Web: http://www.gulfresourcesinc.cn/

CCG Investor Relations

Mr. Crocker Coulson, President

Tel: +1-646-213-1915

E-mail: crocker.coulson@ccgir.com

Ms. Linda Salo, Financial Writer

Tel: +1-646-922-0894

E-mail: linda.salo@ccgir.com

Web: http://www.ccgirasia.com/