GULF RESOURCES, INC. 
By In the news release, "Gulf Resources Agrees to Acquire Bromine and Crude Salt Manufacturing Assets," issued today by Gulf Resources, Inc. (Nasdaq: GFRE) over PR Newswire Asia, we are advised by the company that in the second sentence of the second paragraph, "incremental revenue" should read "incremental net income". Full correct release follows:
Gulf Resources Agrees to Acquire Bromine and Crude Salt Manufacturing Assets
"The acquisition will result in additional annual production capacity of
3,000 tons of bromine and 100,000 tons of crude salt, expanding the
consolidated annual production capacity of SCHC to 46,300 tons of bromine and
550,000 tons of crude salt. We expect the additional production of bromine and
crude salt from these new assets to add approximately
Consideration for the asset purchase includes
Upon the closing of the transaction, approximately 10 days after receiving
the satisfactory assessment report, SCHC will acquire the buildings, wells,
machinery, equipment, pipelines, power circuits and inventory owned by the
sellers, and any warranties associated therewith, located on 3.07 km2, or
approximately 759 acres, in Shouguang City Yangkou Township, east of the
Yangzhuang Village. The lease payment due under the 50-year land lease for the
Leased Property will be paid-off by the Sellers up to
"Following the closing of this acquisition, we continue to focus on our
goal to expand production capacity and further grow our market share in
The closing of the transaction is subject to certain closing conditions,
including a final assessment of the condition of the assets. Further details
on the terms of this transaction can be found in the Company's 8-K which is
expected to be filed with the U.S. Securities and Exchange Commission on
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned subsidiaries,
Shouguang City Haoyuan Chemical Company Limited ("SCHC") and Shouguang Yuxing
Chemical Industry Co., Limited ("SYCI"). The Company believes that it is one
of the largest producers of bromine in
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
Email: gfre.2008@vip.163.com
Helen Xu
Email: beishengrong@vip.163.com
Web: http://www.gulfresourcesinc.cn
CCG Investor Relations Inc.
Linda Salo, Sr. Financial Writer
Phone: +1-646-922-0894
Email: linda.salo@ccgir.com
Crocker Coulson, President
Phone: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com------
Gulf Resources Agrees to Acquire Bromine and Crude Salt Manufacturing Assets
"The acquisition will result in additional annual production capacity of
3,000 tons of bromine and 100,000 tons of crude salt, expanding the
consolidated annual production capacity of SCHC to 46,300 tons of bromine and
550,000 tons of crude salt. We expect the additional production of bromine and
crude salt from these new assets to add approximately
Consideration for the asset purchase includes
Upon the closing of the transaction, approximately 10 days after receiving
the satisfactory assessment report, SCHC will acquire the buildings, wells,
machinery, equipment, pipelines, power circuits and inventory owned by the
sellers, and any warranties associated therewith, located on 3.07 km2, or
approximately 759 acres, in Shouguang City Yangkou Township, east of the
Yangzhuang Village. The lease payment due under the 50-year land lease for the
Leased Property will be paid-off by the Sellers up to
"Following the closing of this acquisition, we continue to focus on our
goal to expand production capacity and further grow our market share in
The closing of the transaction is subject to certain closing conditions,
including a final assessment of the condition of the assets. Further details
on the terms of this transaction can be found in the Company's 8-K which is
expected to be filed with the U.S. Securities and Exchange Commission on
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned subsidiaries,
Shouguang City Haoyuan Chemical Company Limited ("SCHC") and Shouguang Yuxing
Chemical Industry Co., Limited ("SYCI"). The Company believes that it is one
of the largest producers of bromine in
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
Email: gfre.2008@vip.163.com
Helen Xu
Email: beishengrong@vip.163.com
Web: http://www.gulfresourcesinc.cn
CCG Investor Relations Inc.
Linda Salo, Sr. Financial Writer
Phone: +1-646-922-0894
Email: linda.salo@ccgir.com
Crocker Coulson, President
Phone: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.comSOURCE Gulf Resources, Inc.
