Company: GURE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001193805-25-001184
Chunk: 54

Company: GULF RESOURCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 54
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shall be issued by the Company to Seller C or Seller C's designated parties within three months after SHSI has inspected and accepted
the crude salt field in writing; (2) the balance shall be paid in cash before December 31, 2028.

 On
December 17, 2024, SHSI entered into an amendment to the acquisition agreement with Seller D, pursuant to which the Article 2. 2 of the
agreement has been amended as follows: Eighty percent (80%) of the total amount, equaling RMB 16,632,000 had been paid on the date of
signing the contract by both parties. The remaining RMB 4,158,000 shall be paid in a combination of common stock of the Company and cash
as follows: (1) RMB1,663,200 shall be paid in shares, calculated on a per share price ofUS$1.5, using the exchange rate RMB/US$:7.27.
These shares shall be issued by the Company to Seller D or Seller D's designated parties within three months after SHSI has inspected
and accepted the crude salt field in writing; (2) the balance shall be paid in cash before December 31, 2028.

On
December 17, 2024, SHSI entered into an amendment to the acquisition agreement with Seller E, pursuant to which the Article 2. 2 of the
agreement has been amended as follows: Eighty percent (80%) of the total amount, equaling RMB36,628,320 had been paid on the date of signing
the contract by both parties. The remaining RMB9,157,080 shall be paid in a combination of common stock of the Company and cash as follows:
(1) RMB3,662,832 shall be paid in 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 the Company to Seller E or Seller E's designated party within three months after SHSI has inspected and accepted the
crude salt field in writing; (2) the balance shall be paid in cash by SHSI to Seller E before December 31, 2028.

27 

In
accordance to each amendment, the parties also acknowledged and agreed that, in compliance with the Nasdaq Listing Rule 5635, the issuance
of shares pursuant to the agreement may not