Bullish indicating open at $55-$60, IPO prices at $37
HONG KONG - China Natural Resources, Inc. (NASDAQ:CHNR), currently trading at $0.56 with a market capitalization of $5.66 million, will implement an 8-for-1 share combination effective June 13, 2025, the company announced Tuesday.
Under the combination, every eight issued and outstanding common shares will automatically convert into one common share. Any fractional shares resulting from the combination will be rounded up to the next whole share.
The company stated that the share combination will affect all shareholders uniformly and will not alter any shareholder’s percentage interest in outstanding common shares, except for adjustments from fractional share treatment.
All outstanding options, warrants and other rights to purchase the company’s common shares will be adjusted proportionately as a result of the combination.
China Natural Resources’ common shares will continue trading under the symbol "CHNR" but with a new CUSIP number, G2110U125.
The British Virgin Islands-registered company currently operates in exploration and mining, focusing on lead, silver and other nonferrous metals in Inner Mongolia. The company is also exploring business opportunities in non-natural resource sectors.
In 2023, China Natural Resources agreed to acquire Williams Minerals, a lithium mine operator in Zimbabwe, for a maximum consideration of $1.75 billion. The company reports it is "actively working with all involved parties to close the deal."
The information in this article is based on a press release statement from the company.
In other recent news, China Natural Resources has announced an eight-to-one share combination for its issued and outstanding common shares, set to take effect on June 12, 2025. This move is aimed at elevating the company’s per-share trading price to meet Nasdaq’s minimum bid price requirement of $1.00 for continued listing. Post-combination, the company will have approximately 1,233,221 common shares issued and outstanding, while the total number of authorized common shares remains unchanged. Additionally, China Natural Resources is negotiating the acquisition of Williams Minerals, a lithium mining operation in Zimbabwe, for up to US$1.75 billion. This acquisition is part of the company’s strategy to expand its interests beyond mining and exploration in Inner Mongolia. The company is currently in discussions to finalize this deal with its controlling shareholder, Feishang Group Limited, and Top Pacific (China) Limited. These developments reflect China Natural Resources’ ongoing efforts to diversify its portfolio and comply with market requirements.
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