China Natural Resources Announced Friday It Agreed To Sell All Outstanding Shares Of Precise Space-time Technology Limited To Feishang Group Limited For Consideration Of Approximately $13.2M
Portfolio Pulse from Charles Gross
China Natural Resources, Inc. (NASDAQ:CHNR) has agreed to sell all outstanding shares of Precise Space-Time Technology Limited to Feishang Group Limited for approximately $13.2 million. The base purchase price is subject to upward post-closing adjustment based on the difference between net assets of PSTT as of June 30, 2023, and the base net assets.
July 31, 2023 | 8:58 am
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China Natural Resources, Inc. is selling Precise Space-Time Technology Limited to Feishang Group Limited for approximately $13.2 million. This could potentially increase the company's cash reserves and affect its financial position.
The sale of Precise Space-Time Technology Limited could potentially increase China Natural Resources, Inc.'s cash reserves by approximately $13.2 million. This could improve the company's financial position and potentially make it more attractive to investors, which could drive up the stock price in the short term.
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