UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of September 2020.
Commission File Number 0-26046
China Natural Resources, Inc.
(Translation of registrant's name into English)
Room 2205, 22/F , West Tower, Shun Tak Centre,
168-200 Connaught Road Central, Sheung Wan, Hong Kong
(Address of principal executive offices)
Indicate by check mark whether the registrant files of will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F þ Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
This report on Form 6-K is hereby incorporated by reference into the Registration Statement on Form F-3 (File No. 333-233852) of China Natural Resources, Inc. (the “Company”), and related prospectus, as such registration statement and prospectus may be amended from time to time, and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.
Company Regains Compliance with Nasdaq Listing Rules
As previously reported, on March 24, 2020, the Company received written notice from the Listing Qualifications department of Nasdaq Regulation (“Nasdaq”) that the Company had not satisfied the minimum $35.0 million market value of listed securities requirement for the past 30 consecutive business days, as required under Nasdaq Listing Rule 5550(b)(2) (the “Market Capitalization Requirement”). In accordance with the Nasdaq Listing Rules, the Company was provided a 180 calendar day period, ending September 21, 2020, to regain compliance with the Market Capitalization Requirement. In order to achieve compliance, the Company was required to evidence a market value of listed securities of at least $35.0 million for a minimum of ten consecutive business days, or demonstrate compliance with one of the alternative continued listing standards.
On September 2, 2020, Nasdaq notified the Company that it had determined that for the previous eleven consecutive business days, from August 18, 2020, to September 1, 2020, the Company’s market value of listed securities was $35.0 million or greater. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(b)(2), and the matter is now closed.
Press Release
On September 3, 2020 the Company issued a press release regarding its compliance with the Nasdaq Listing Rules. The press release furnished herewith as Exhibit 15.1 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Exhibit Index
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15.1 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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CHINA NATURAL RESOURCES, INC. |
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Date: September 3, 2020 |
By: |
/s/ Wong Wah On Edward |
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Wong Wah On Edward |
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Chairman and Chief Executive Officer |
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EXHIBIT 15.1
CHINA NATURAL RESOURCES REGAINS COMPLIANCE
WITH NASDAQ MINIMUM MARKET VALUE REQUIREMENT
HONG KONG, SEPTEMBER 3, 2020 – CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR) (the “Company”), a company based in the People's Republic of China (the “PRC”), today announced that on September 2, 2020, it received written notice from the Listing Qualifications department of Nasdaq Regulation (“Nasdaq”) that the Company regained compliance with the minimum market value of listed securities (“MVLS”) requirement set forth in Nasdaq Listing Rule 5550(b)(2).
The Company had previously received a letter from Nasdaq on March 24, 2020 notifying the Company that it was not in compliance with Nasdaq Listing Rule 5550(b)(2), which requires listed securities to maintain a minimum MVLS of $35 million.
“We are pleased to see that the market value of the Company's shares once again exceeds the requirements for continued listing on Nasdaq. Regaining compliance allows continued access to the capital markets for the Company and liquidity for our shareholders,” said Mr. Wong Wah On Edward, the Company's Chairman.
About China Natural Resources, Inc.:
China Natural Resources, Inc., a British Virgin Islands corporation, through its operating subsidiary in the PRC, is currently engaged in (a) the acquisition and exploitation of mining rights in Inner Mongolia, including preliminary exploration for lead, silver and other nonferrous metals; and (b) copper trading in the PRC.
Forward-Looking Statements:
This press release includes forward-looking statements within the meaning of the U.S. federal securities laws. These statements include, without limitation, statements regarding the intent, belief and current expectations of the Company, its directors or its officers with respect to the Company’s continued compliance with the Nasdaq Listing Rules. Forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statement as a result of various factors. Among the risks and uncertainties that could cause the Company’s actual results to differ from its forward-looking statements are: uncertainties regarding governmental, economic and political circumstances in the PRC; uncertainties associated with metal price volatility; uncertainties related to the Company’s ability to fund operations; uncertainties relating to possible future increases in operating expenses, including costs of labor and materials; uncertainties regarding the impact of the COVID-19 pandemic; uncertainties regarding the political situation between the PRC and the United States, and potential negative impacts on companies with operations in the PRC that are listed on exchanges in the United States; and other risks detailed from time to time in the Company’s filings with the SEC, including without limitation the information set forth in our Annual Reports on Form 20-F under the heading "Risk Factors." When, in any forward-looking statement, the Company, or its management, expresses an expectation or belief as to future results, that expectation or belief is expressed in good faith and is believed to have a reasonable basis, but there can be no assurance that the stated expectation or belief will result or be achieved or accomplished. Except as required by law, the Company undertakes no obligation to update any forward-looking statements.