China Natural Resources Inc (NASDAQ: CHNR) has picked up Precise Space-Time Technology Limited for a price of about 104.1 million Chinese Yuan ($16.1 million). It is a 20% markdown to the worth of Precise Space-Time Technology as ascertained by an independent assessment company.
Precise Space-Time Technology, through its businesses, possesses 51% equity concern in Shanghai Onway
Through its solely held affiliates, Precise Space-Time Technology maintains a 51% equity interest in Shanghai Onway. Shanghai Onway is mainly involved in the delivery of apparatus for countryside wastewater handling and manufacturing, obtaining, and building facilities about wastewater action in China.
The company is mainly tied up in the survey for lead, silver and other metals in the Moruogu Tong Mine, situated in the Inner Mongolia Autonomous Region of China. In addition, the company has been inspecting striking openings in numerous subdivisions, including the healthcare segment in China. The company functions as a publicly responsible mining company. It is dedicated to minimalizing the effect of its processes on the surroundings and humanizing the local groups’ fitness and comfort near its excavation.
Wong Wah On Edward, Chairman of the company, said, “The country dirt treatment business is experiencing a period of rapid development. We consider that in accumulation to providing convincing collaborations with our present processes, this is itself a lucrative trade to enter with encouraging returns for our stockholders.”
Wong added,” Through the attainment of Precise Space-Time Technology, we are arriving into the smart ecological defense trade, which we trust will further reinforce our long-term development openings. ”
China Natural Resources announces the closing of $7.3 Million Documented Straight Contribution
China Natural Resources further announced that it had sealed the enumerated straight tender of about $7.3 million of common stocks at a value of $1.85 per share on January 22, 2021, as beforehand announced on January 20, 2021.
The company dispensed an aggregate of 3,960,000 public shares to the recognized stockholders partaking in the posing. In addition, in a simultaneous private engagement, the company also dispensed securities to the stockholders, initially exercisable to acquire up to 1,584,000 common stocks at an exercise price of $2.35 per share.