Company: GURE
Filing Date: 2025-09-22
Form Type: S-3/A
Source: 0001193805-25-001326
Chunk: 32

Company: GULF RESOURCES, INC.
Filing Date: 2025-09-22
Form: S-3/A
Chunk 32
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 person
or group that owns 10% or more of the corporation’s outstanding voting power (including stock with respect to which the person has
voting rights and any rights to acquire stock pursuant to an option, warrant, agreement, arrangement, or understanding or upon the exercise
of conversion or exchange rights) or is an affiliate or associate of the corporation and was the owner of 10% or more of such voting stock
at any time within the previous three years.

A Nevada corporation may elect not to be governed
by Sections 78.411 to 78.444 by a provision in its articles of incorporation. We have such a provision in our Articles of Incorporation,
as amended, pursuant to which we have elected to opt out of Sections 78.411 to 78.444; therefore, these sections do not apply to us.

Nevada law also seeks to impede “unfriendly”
corporate takeovers by providing in Sections 78.378 to 78.3793 of the NRS, commonly referred to as the “Control Share Act”,
that an “acquiring person” shall only obtain voting rights in the “control shares” purchased by such person to
the extent approved by the other stockholders at a meeting. With certain exceptions, an acquiring person is one who acquires or offers
to acquire a “controlling interest” in the corporation, defined as one-fifth or more of the voting power. Control shares include
not only shares acquired or offered to be acquired in connection with the acquisition of a controlling interest, but also all shares acquired
by the acquiring person within the preceding 90 days. The statute covers not only the acquiring person, but also any persons acting in
association with the acquiring person. The NRS control share statutes only apply to issuers that have 200 or more stockholders of record,
at least 100 of whom have had addresses in Nevada appearing on the stock ledger of the corporation at all times during the 90 days immediately
preceding such date; and whom do business in Nevada directly or through an affiliated corporation. At this time, we do not believe we
have 100 shareholders of record who have addresses in Nevada and we do not conduct business in Nevada directly or through an affiliated
corporation. Therefore, the provisions of the Control Share Act are believed not to apply to acquisitions of our shares and will not until
such time as these requirements have been met. At such time as they may apply, the provisions of the Control Share Act may