HONG
KONG, May 2, 2022 /PRNewswire/ -- On
April 27, 2022, China Natural
Resources, Inc. (NASDAQ: CHNR) (the "Company") received a letter
from the Listing Qualifications Department of The Nasdaq Capital
Market ("Nasdaq") notifying the Company that it is currently not in
compliance with the minimum bid price requirement set forth under
Nasdaq Listing Rule 5550(a)(2), because the closing bid price of
the Company's common shares was below the minimum of $1.00 per share for a period of 30 consecutive
business days. This press release is issued pursuant to Nasdaq
Listing Rule 5810(b), which requires prompt disclosure of receipt
of a deficiency notification. The notification has no immediate
effect on the listing of the Company's common shares, which will
continue to trade uninterrupted on Nasdaq under the ticker
"CHNR".
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a
compliance period of 180 calendar days, or until October 24, 2022
(the "Compliance Period"), to regain compliance with Nasdaq's
minimum bid price requirement. If at any time during the Compliance
Period, the closing bid price per share of the Company's common
shares is at least $1.00 for a minimum of ten consecutive business
days, Nasdaq will provide the Company a written confirmation of
compliance and the matter will be closed.
In the event the Company does not regain compliance with the
minimum bid price requirement by October 24,
2022, the Company may be eligible for an additional
180-calendar-day grace period.
About China Natural Resources:
China Natural Resources, Inc., a British Virgin Islands corporation, through
its operating subsidiaries in the
People's Republic of China (the "PRC"), is currently engaged
in the wastewater treatment industry in the PRC, and the
acquisition and exploitation of mining rights in Inner Mongolia,
including preliminary exploration for nickel, lead, silver and
other nonferrous metals, and is actively exploring further business
opportunities in the healthcare sector, natural resources sector
and other sectors.
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SOURCE China Natural Resources, Inc.