Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 70

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 70
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 the Board of Directors; |

| · |     | we are not required to solicit shareholder approval of stock                                                                             
 plans or issuances of securities, including those in which our officers or directors may participate; share issuances that will result   
 in a change in control; the issuance of our shares in related party transactions or other transactions in which we may issue 20% or more 
 of our outstanding common shares; or below market issuances of 20% or more of our outstanding shares to any person; and                  |

| · |     | we are not required to hold an in-person annual meeting to                              
 elect directors and transact other business customarily conducted at an annual meeting. |

Due to an exemption from Nasdaq rules applicable to foreign private issuers, our related party transactions may not receive the type of independent review process that those of other Nasdaq-listed companies receive; the terms of these transactions are not negotiated at arm’s-length and may not be as favorable as could be obtained from unrelated parties.

We have historically engaged in a substantial
number of transactions with related parties in the ordinary course of business, predominantly with our principal beneficial owner and
former Chairman and Chief Executive Officer and/or companies that he owns or controls. These transactions are described in greater detail
elsewhere in this prospectus. In general, Nasdaq rules require that related party transactions be reviewed by an audit committee or other
committee comprised of independent directors. However, under Nasdaq rules applicable to foreign private issuers such as our company,
we are exempt from certain Nasdaq requirements, including requirements applicable to independent director review of related party transactions.
This exemption is available to us because the laws of the BVI, our home jurisdiction, do not mandate independent review of related party
transactions.

Notwithstanding the foregoing, nonrecurring
related party transactions (i.e., related party transactions that are not in the ordinary course of business) are submitted for approval
by our Board of Directors, following disclosure of the related party’s interest in the transaction, and, in all cases, Board approval
has historically included the unanimous approval of our independent directors. In addition, our annual audited financial statements,
including the related party transactions reported therein, are approved by our Audit Committee, which is comprised solely of independent
directors. However, except to the limited extent described above, these transactions are not individually reviewed or approved solely
by independent directors. While management believes that our related party transactions have been on terms at least as favorable to the
Company as could be obtained from