China Natural Resources Receives NASDAQ Minimum Bid Price Requirement Extension

Rhea-AI Summary

On October 25, 2022, China Natural Resources, Inc. (NASDAQ: CHNR) was granted an additional 180-day extension by Nasdaq to comply with its minimum bid price requirement, now due by April 24, 2023. To meet this requirement, CHNR must maintain a closing bid price of at least $1.00 per share for ten consecutive trading days. The company operates primarily in wastewater treatment in China and explores mining rights for nonferrous metals.

Positive

• Granted a 180-day compliance extension by Nasdaq until April 24, 2023.

Negative

• Must achieve a closing bid price of $1.00 or more for 10 consecutive trading days to avoid potential delisting.

HONG KONG, Oct. 26, 2022 /PRNewswire/ -- China Natural Resources, Inc. (NASDAQ: CHNR) (the "Company"), announced today that on October 25, 2022, it received notification from the Nasdaq Capital Market ("Nasdaq") confirming the Company has been granted an additional 180 calendar day period for compliance under its minimum bid price requirement through April 24, 2023. To regain compliance with Nasdaq's minimum bid price requirement, the closing bid price of the Company's common shares needs to be at least $1.00 per share or greater for at least ten consecutive trading days by April 24, 2023.

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.

View original content:https://www.prnewswire.com/news-releases/china-natural-resources-receives-nasdaq-minimum-bid-price-requirement-extension-301659901.html

SOURCE China Natural Resources, Inc.

FAQ

What is the minimum bid price requirement for CHNR as of October 2022?

CHNR must maintain a closing bid price of at least $1.00 per share for ten consecutive trading days.

When is the deadline for CHNR to comply with Nasdaq's requirements?

The deadline for compliance is April 24, 2023.

What industry is CHNR primarily involved in?

CHNR is primarily engaged in the wastewater treatment industry in China.

What extension did CHNR receive from Nasdaq?

CHNR received a 180-day extension for compliance with its minimum bid price requirement.