China Natural Resources Announces Effective Date of Share Combination
Rhea-AI Summary
Positive
- Reverse share combination could help maintain NASDAQ listing requirements
- Potential acquisition of Williams Minerals lithium mine in Zimbabwe valued at $1.75 billion shows growth strategy
- Company maintains mining rights in Inner Mongolia for lead, silver, and other nonferrous metals
Negative
- Reverse share split typically indicates share price weakness
- Significant dilution risk from the $1.75 billion Williams Minerals acquisition
- Heavy concentration in high-risk mining jurisdictions (Inner Mongolia and Zimbabwe)
News Market Reaction
On the day this news was published, CHNR gained 25.89%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Upon the effectiveness of the share combination, every eight issued and outstanding common shares will automatically be converted into one issued and outstanding common share. No fractional shares will be issued as a result of the share combination. Instead, any fractional shares that would have resulted from the combination will be rounded up to the next whole share. The share combination affects all shareholders uniformly and will not alter any shareholder's percentage interest in the Company's outstanding common shares, except for adjustments that may result from the treatment of fractional shares. All outstanding options, warrants and other rights to purchase the Company's common shares will be adjusted proportionately as a result of the share combination.
The Company's common shares will continue to trade under the symbol "CHNR" but with a new CUSIP number, G2110U125.
About China Natural Resources:
China Natural Resources, Inc. (NASDAQ: CHNR) is currently a holding company that operates in exploration and mining business. Upon the completion of Precise Space-Time Technology disposition on July 28, 2023, the Company is engaged in the acquisition and exploitation of mining rights in
Forward-Looking Statements:
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
View original content:https://www.prnewswire.com/news-releases/china-natural-resources-announces-effective-date-of-share-combination-302477998.html
SOURCE China Natural Resources, Inc.
FAQ
What is the ratio of CHNR's reverse share combination announced for June 2025?
When will CHNR's reverse share combination take effect?
What happens to fractional shares in CHNR's reverse share combination?
What is CHNR's new CUSIP number after the reverse share combination?
How much is CHNR planning to pay for Williams Minerals acquisition?
