M&A - GULF RESOURCES, INC.

Form Type: 10-K

Filing Date: 2025-04-11

Corporate Action: Acquisition

Type: Update

Accession Number: 000119380525000461

Filing Summary: Gulf Resources, Inc. manufactures and trades bromine and crude salt and has engaged in the acquisition of multiple crude salt fields through its subsidiary, Shouguang Hengde Salt Industry Co. Ltd. In June 2024, the company entered into acquisition agreements with five sellers to acquire crude salt fields, with payment plans involving both cash and shares of common stock. These agreements detail the purchase of 2,380,000 square meters of crude salt field for RMB54.40 per square meter, totaling RMB129,472,000, with specific payment terms outlined, including an initial payment of 80% and the remaining 20% to be paid in shares after inspections. The corporate structure has seen Gulf Resources owning multiple subsidiaries, including those involved in this strategic acquisition. Additionally, the company provides an outlook on its financial operations and historical acquisitions, emphasizing its growth strategy in the chemical and natural resource sectors.

Document Link: View Document

Form Type: 8-K

Filing Date: 2025-03-05

Corporate Action: Acquisition

Type: New

Accession Number: 000119380525000267

Filing Summary: On February 28, 2025, Gulf Resources, Inc. completed an acquisition involving its wholly owned subsidiary, Shouguang Hengde Salt Industry Co. Ltd (SHSI). The acquisition was made in accordance with agreements dated June 26 and June 27, 2024, which involved multiple sellers and was amended on December 17, 2024. SHSI acquired crude salt fields from several cooperatives in Shandong province, China. Additionally, on the same closing date, the Company issued 2,059,694 shares of its common stock at a price of $1.50 per share to five individuals designated by the sellers. This stock issuance was exempt from registration under Regulation S of the Securities Act of 1933.

Document Link: View Document

Form Type: 8-K

Filing Date: 2025-01-06

Corporate Action: Acquisition

Type: New

Accession Number: 000119380525000011

Filing Summary: On December 30, 2024, Gulf Resources, Inc. announced that its wholly owned subsidiary, Shouguang Hengde Salt Industry Co. Ltd (SHSI), successfully completed the acquisition process concerning salt land from several cooperatives. The parties involved confirmed that the provided salt land meets the acquisition criteria, is in usable condition, and has been officially accepted by SHSI. This marks a key development in Gulf Resources' operational strategy in the salt industry sector in China.

Document Link: View Document