CHINA NATURAL RESOURCES, INC. ANNOUNCES REGISTERED DIRECT PLACEMENT OF $3.27 MILLION OF COMMON SHARES AND PRIVATE PLACEMENT WARRANTS

Group 1 - China Natural Resources, Inc. has entered into a securities purchase agreement for a registered direct placement of approximately $3.27 million of common shares at a price of $2.20 per share, issuing a total of 1,487,870 common shares [1] - In a concurrent private placement, the company will issue common share warrants initially exercisable for the purchase of up to 1,115,903 common shares at an exercise price of $3.00 per share, with a term of 42 months [1] - The net proceeds from this offering will be used for general working capital purposes, with completion expected on or about February 21, 2024, subject to customary closing conditions [1] Group 2 - FT Global Capital, Inc. acted as the exclusive placement agent for the transaction [2] - The common shares are being offered through a prospectus supplement as part of the company's effective shelf registration statement filed with the SEC [2] Group 3 - China Natural Resources operates in two reportable segments: wastewater treatment and exploration and mining, and is engaged in acquiring mining rights in Inner Mongolia [3] - The company recently agreed to acquire Williams Minerals, which operates a lithium mine in Zimbabwe, for a maximum consideration of $1.75 billion, with the acquisition expected to close in 2024 [3]