LOS ANGELES and SHANDONG, China, Oct. 24 /Xinhua-PRNewswire-FirstCall/ -- Gulf Resources (OTC Bulletin Board: GUFR) announced today that it filed a Preliminary Schedule 14C Information Statement (PRE 14C) with the Securities and Exchange Commission (SEC) to announce that the Company intends to effect a two-for-one forward stock split of the issued and outstanding share of the Company's Common Stock and to increase the number of authorized shares of Common Stock from 70 million to 400 million.
The decision to effect the forward stock split and increase the authorized shares of common stock was approved by the Board of Directors and shareholders owning a majority of the outstanding shares of the Company's Common Stock in order to provide greater availability of common stock in the public marketplace, to help improve future liquidity and further diversify the Company's shareholder base.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned subsidiaries: SCHC which is engaged in manufacturing and trading Bromine and Crude Salt in China. Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture, and SYCI which manufactures chemical products utilized in oil & gas field explorations and as papermaking chemical agents. For more information, please visit http://www.gulfresourcesco.com .
Safe Harbor Statement
Certain statements in this news release may 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. 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. There can be no assurance the PRE 14C will deemed effective by the SEC.
