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Gulf Resources Gets Financially Comfortable

Aggregated Source: China Stocks News and Analysis from Seeking Alpha
March 7, 2008|

In May last year, when the share price of Gulf Resources (GFRE.OB) was trading at around $1, the company entered into a standby equity distribution agreement with several private investors to sell up to 60 million shares at $1 each. Announcement came Thursday that this agreement, which has never been put in effect, has now been scrapped.

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