Gulf Resources, Inc. Signs Material Definitive Agreement

TL;DR

Gulf Resources signed a big deal on Dec 17th. 8-K filed.

AI Summary

Gulf Resources, Inc. entered into a material definitive agreement on December 17, 2024. The filing, submitted on December 19, 2024, pertains to this agreement and includes financial statements and exhibits. The company, incorporated in Nevada, operates in the Chemicals & Allied Products sector.

Why It Matters

This filing indicates a significant new contract or partnership for Gulf Resources, Inc., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities that are not yet fully understood.

Key Numbers

• 001-34499 — SEC File Number (Identifies the company's filing history with the SEC.)
• 13-3637458 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Gulf Resources, Inc. (company) — Registrant
• December 17, 2024 (date) — Date of earliest event reported
• December 19, 2024 (date) — Filing date
• Nevada (jurisdiction) — State of incorporation
• 2800 (industry_code) — Standard Industrial Classification

FAQ

Key Financial Figures

• $0.0005 — nge on which registered Common Stock, $0.0005 par value GURE NASDAQ Global Select
• $1 — s, calculated on a per share price of US$1.5, using the exchange rate RMB/US$:7.27
• $1.5 — s, calculated on a per share price of US$1.5 per, using the exchange rate RMB/US$:7.

Filing Documents

• e664098_8k-gulfresources.htm (8-K) — 31KB
• e664098_ex10-1.htm (EX-10.1) — 10KB
• e664098_ex10-2.htm (EX-10.2) — 10KB
• e664098_ex10-3.htm (EX-10.3) — 10KB
• e664098_ex10-4.htm (EX-10.4) — 10KB
• e664098_ex10-5.htm (EX-10.5) — 10KB
• 0001193805-24-001508.txt ( ) — 266KB
• gure-20241217.xsd (EX-101.SCH) — 3KB
• gure-20241217_lab.xml (EX-101.LAB) — 33KB
• gure-20241217_pre.xml (EX-101.PRE) — 22KB
• e664098_8k-gulfresources_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On December 17, 2024, a wholly owned subsidiary of Gulf Resources, Inc. (the "Registrant" or the "Company"), Shouguang Hengde Salt Industry Co. Ltd ( "SHSI" or "Party B"), entered into an amendment to the Crude Salt Field Acquisition Agreement (the "Acquisition Agreement 1") with Shouguang Qingshuibo Farm Co., LTD. ("Party A 1"), pursuant to which the Article 2. 2 of the Acquisition Agreement 1 has been amended as follows: Eighty percent (80%) of the total amount, equaling RMB103,577,600 had been paid on the date of signing the contract by both parties. The remaining RMB25,894,400 shall be paid in a combination of common stock of Party B's parent company, Gulf Resources, Inc. (the "Shares"), and cash as follows: (1) RMB10,357,800 shall be paid in the Shares, calculated on a per share price of US$1.5, using the exchange rate RMB/US$:7.27. These shares shall be issued by Gulf Resources, Inc. to Party A 1 or Party A 1's designated parties within three months after Party B has inspected and accepted the crude salt field in writing; (2) the balance shall be paid in cash by Party B to Party A 1 before December 31, 2028. On December 17, 204, SHSI entered into an amendment to the Crude Salt Field Acquisition Agreement (the "Acquisition Agreement 2") with Shouguang city Yangkou Town Dingjia Zhuangzi Village Stock Economic Cooperative ("Party A 2"), pursuant to which the Article 2. 2 of the Acquisition Agreement 2 has been amended as follows: (80%) of the total amount, equaling RMB32,460,000 had been paid on the date of signing the contract by both parties. The remaining RMB8,115,000 shall be paid in a combination of common stock of Party B's parent company, Gulf Resources, Inc. (the "Shares"), and cash as follows: (1) RMB3,246,000 shall be paid in the Shares, calculated on a per share price of US$1.5, using the exchange rate RMB/US$:7.27. These shares shall be issued by Gulf Resources, Inc. to Party A 2 or Party A 2's

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 10.1 Amendment to Crude Salt Field Acquisition Agreement by and between Shouguang Hengde Salt Industry Co. Ltd and Shouguang Qingshuibo Farm Co., LTD, dated December 17, 2024. 10.2 Amendment to Crude Salt Field Acquisition Agreement by and between Shouguang Hengde Salt Industry Co. Ltd and Shouguang city Yangkou town Dingjia Zhuangzi village stock economic cooperative, dated December 17, 2024. 10.3 Amendment to Crude Salt Field Acquisition Agreement by and between Shouguang Hengde Salt Industry Co. Ltd and Shouguang city Yangkou town Shanjia Zhuangzi village stock economic cooperative, dated December 17, 2024. 10.4 Amendment to Crude Salt Field Acquisition Agreement by and between Shouguang Hengde Salt Industry Co. Ltd and Shouguang City Yangkou town Zhengjia Zhuangzi village stock economic cooperative, dated December 17, 2024. 10.5 Amendment to Crude Salt Field Acquisition Agreement by and between Shouguang Hengde Salt Industry Co. Ltd and Shouguang city Yangkou town Renjia Zhuangzi village stock economic cooperative, dated December 17, 2024.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GULF RESOURCES, INC. By: /s/ Min Li Name: Min Li Title: Chief Financial Officer Dated: December 19, 2024

View Full Filing

View this 8-K filing on SEC EDGAR