Company: CHNR
Filing Date: 2025-05-15
Form Type: 424B5
Source: 0001079973-25-000830
Chunk: 20

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-05-15
Form: 424B5
Chunk 20
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 full settlement of the purchase consideration in cash and restricted
shares. For each relevant region of the lithium mine, until the Company’s legal possession and control vests, the Sellers will maintain
legal possession and control, including the right of exploration, sale of lithium, and the revenue derived therefrom, as well as liability
for operational costs and third-party claims.

Subject to the terms and
conditions of the Zimbabwe SPA, the Company plans to issue restricted shares as 50% of the consideration for the Acquisition, with the
remaining 50% of the consideration comprised of a promissory note and/or cash, for maximum consideration of US$1.75 billion (3.5 million
estimated tons of measured, indicated and inferred resources of lithium oxide (grade 1.06% or above in accordance with the standard under
the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves) priced at US$500 per ton). The Company
may issue restricted CHNR shares at a discount to the market price to secure a portion of the required capital. On April 14, 2023, the
Company announced that it completed its due diligence investigation with satisfactory results and decided to proceed with the Acquisition.
The Company paid an aggregate of $35 million by way of promissory notes (instead of cash) as a deposit on April 21, 2023, and will pay
an aggregate of $140 million by way of promissory notes and/or cash as an initial installment.

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Completion of the Acquisition
is contingent upon the satisfaction of a number of conditions, including, among other things, the issuance of independent technical reports,
the actual quantity of qualified lithium oxide metal resources proven or estimated to exist in each mining area covered by the relevant
report, and the Company’s full settlement of the purchase consideration in cash and restricted shares. There is no guarantee that
the Acquisition will close or be completed at the anticipated valuation and terms, or at all.

On December 22, 2023, the Company
entered into an amendment agreement (the “Amendment Agreement”) to the sale and purchase agreement dated as of February 27,
2023 by and among Feishang Group and Top Pacific (China) Limited (together, the “Sellers”), and the respective beneficial
owner of the Sellers, Mr. Li Feilie and Mr. Yao Yuguang with the parties thereto. As the Sellers are still in the process of satisfying
conditions precedent to the