HONG
KONG, July 11, 2024 /PRNewswire/ -- On
July 5, 2024, 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 January 2, 2025 (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 January 2,
2025, 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 exploration for lead, silver and other metals in the Inner
Mongolia Autonomous Region of the PRC and is actively exploring
further business opportunities in the natural resources sector and
other sectors.
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SOURCE China Natural Resources, Inc.