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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001193805-09-000236.txt : 20090206
<SEC-HEADER>0001193805-09-000236.hdr.sgml : 20090206
<ACCEPTANCE-DATETIME>20090206121559
ACCESSION NUMBER:		0001193805-09-000236
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20090124
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090206
DATE AS OF CHANGE:		20090206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GULF RESOURCES, INC.
		CENTRAL INDEX KEY:			0000885462
		STANDARD INDUSTRIAL CLASSIFICATION:	CHEMICALS & ALLIED PRODUCTS [2800]
		IRS NUMBER:				133637458
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20936
		FILM NUMBER:		09575631

	BUSINESS ADDRESS:	
		STREET 1:		CHEMING INDUSTRIAL PARK
		STREET 2:		UNIT - HAOYUAN CHEMICAL COMPANY LIMITED
		CITY:			SHOUGUANG CITY, SHANDONG
		STATE:			F4
		ZIP:			262714
		BUSINESS PHONE:		(310) 470-2886

	MAIL ADDRESS:	
		STREET 1:		CHEMING INDUSTRIAL PARK
		STREET 2:		UNIT - HAOYUAN CHEMICAL COMPANY LIMITED
		CITY:			SHOUGUANG CITY, SHANDONG
		STATE:			F4
		ZIP:			262714

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIVERSIFAX INC
		DATE OF NAME CHANGE:	19940331
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1.01 Entry into a Material Definitive Agreement.</font></div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 24, 2009, Gulf Resources, Inc. (the "Company"), entered into an
agreement to issue 21 million shares of the Company&#8217;s common stock, par value
$0.0005 per share (the &#8220;Common Stock&#8221;), in lieu of paying off in cash
approximately $21.3 million in existing loans payable.</font></div>
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Hua Yin Guaranty and Investment Limited Liability Company (&#8220;Shenzhen Hua Yin&#8221;)
had previously advanced certain non-interest bearing loans denominated in
Chinese renminbi to Shouguang City Haoyuan Chemical Company Limited (&#8220;SCHC&#8221;) a
subsidiary of the Company, in the aggregate principal amount of $21,287,493 (the
&#8220;Loans&#8221;), of which $3.0 million is payable in May 2009, and the remaining $18.3
million is payable no earlier than January 2011. Based on the amendment
agreement dated January 24, 2009 (the &#8220;Amendment Agreement&#8221;), by and between the
Company, SCHC, China Finance, Inc. (&#8220;China Finance&#8221;) Shenzhen Hua Yin, a
subsidiary of China Finance, Top King Group Limited (&#8220;Top King&#8221;), Billion Gold
Group Limited (&#8220;Billion Gold&#8221;), Topgood International Limited (&#8220;Topgood&#8221;) the
parties have agreed&#160;&#160;that in lieu of repayment of the Loans, the
Company shall issue 21.0 million shares of Common Stock at a price equal to
$1.0137 per share (the &#8220;Shares&#8221;) to the following companies (the &#8220;Holders&#8221;),
which are assuming the Loans from Shenzhen Hua Yin, and in the following
amounts.</font></div>
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      million Shares</font></div>
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      Gold&#160;&#160;</font></div>
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      million Shares</font></div>
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      million Shares</font></div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon the
issuance of the Shares, the Loans shall be deemed paid in full and shall be
cancelled.</font></div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each of
the Holders made the following representations to the Company with respect to
the acquisition of the Shares, including, among others, that it is (i)
either&#160;&#160;an &#8220;accredited investor,&#8221; as that term is defined in
Regulation D under the Securities Act of 1933, as amended (the &#8220;Securities
Act&#8221;), or is a &#8220;non-U.S. Person,&#8221; as that term in defined in Regulation S under
the Securities Act; (ii) has such knowledge, skill and experience in business
and financial matters, based on actual participation, and is capable of
evaluating the merits and risks of an investment in the Company and the
suitability thereof as an investment for the Holder; (iii) has received such
documents and information as it has requested and has had an opportunity to ask
questions of representatives of the Company concerning the terms and conditions
of the investment proposed therein, and such questions were answered to the
satisfaction of Holder; (iv) is in a financial position to hold the Shares for
an indefinite time and is able to bear the economic risk and withstand a
complete loss of its investment in the Company; (v) is not required to be
registered as a broker-dealer under Section 15 of the Exchange Act and is not a
broker-dealer; and (vi) acquires the Shares for investment for its own account
and not with a view to, or for resale in connection with, any distribution
thereof.</font></div>
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February 6, 2009, the Registrant issued a press release announcing that it had
signed the aforesaid Amendment Agreement. A copy of such press release is
attached to this report as Exhibit 99.1.</font></div>
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9.01 Financial Statements and Exhibits.</font></div>
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Exhibits.</font></div>
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No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; TEXT-DECORATION: underline">Description</font></font></div>
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Resources, Inc. Press Release dated February 6, 2009.</font></div>
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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 hereunto
duly authorized.</font></div>
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            <tr>
              <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      Li</font></td>
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              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:&#160;</font></td>
              <td align="left" nowrap valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Min
      Li&#160;</font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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              <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:&#160;</font></td>
              <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
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              <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dated:
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      6</font>, 2009&#160;</font></td>
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              <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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Index</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
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Agreement</font></div>
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Resources, Inc. Press Release dated February 6,
2009.</font></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e604969_ex99-1.htm
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<html>
  <head>
    <title>Unassociated Document</title>
    <!--Licensed to: Edata Systems, Inc.-->
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    <div>&#160;</div>
    <div>&#160;</div>
    <div style="TEXT-ALIGN: center"><img src="graphic01.jpg" alt=""></div>
    <div>&#160;</div>
    <div>
    </div>
    <div>&#160;</div>
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              <div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gulf
      Resources, Inc.</font></div>
              <div><font size="2">Rena Xiao</font></div>
              <div><font size="2">E-mail: <font style="DISPLAY: inline; TEXT-DECORATION: underline">renaxiao@gmail.com</font></font></div>
            </td>
            <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CCG
      Investor Relations, Inc.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Crocker
      Coulson, President</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Phone:
      +1-646-213-1915</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">E-mail:
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            <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr>
            <td valign="top" width="33%">
              <div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Helen
      Xu</font></div>
              <div><font size="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt">E-mail:
      </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">beishengrong@163.com</font></font></div>
              <div>&#160;</div>
              <div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Website:
      <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.gulfresourcesinc.cn</font></font></div>
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            <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Linda
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Phone:
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">E-mail:
      linda.salo@ccgir.com</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Website: <font style="DISPLAY: inline; TEXT-DECORATION: underline">http://www.ccgirasia.com/</font></font></td>
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    <div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Gulf
Resources Announces Agreement to Reduce Debt by </font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Issuing
Common Stock</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">New York &amp; Shandong Province,
February 6, 2009</font> - Gulf Resources, Inc. (OTCBB: GFRE) (&#8220;Gulf Resources&#8221;
or the &#8220;Company&#8221;), a leading manufacturer of bromine, crude salt and specialty
chemical products in the People&#8217;s Republic of China, today announced that it has
signed an agreement to issue 21.0 million shares of the Company&#8217;s common stock
in lieu of paying off in cash approximately $21.3 million in existing loans
payable.</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shenzhen
Hua Yin Guaranty and Investment Limited Liability Company (&#8220;Shenzhen Hua Yin&#8221;)
has previously advanced certain non-interest bearing loans denominated in
Chinese renminbi to Shouguang City Haoyuan Chemical Company Limited (SCHC&#8221;) a
subsidiary of the Company, in the aggregate principal amount of $21,287,493 (the
&#8220;Loans&#8221;), of which $3.0 million is payable in May 2009, and the remaining $18.3
million is payable no earlier than January 2011. Based on an amendment agreement
dated January 24, 2009 (the &#8220;Amendment Agreement&#8221;), by and between the Company,
SCHC, China Finance, Inc. (&#8220;China Finance&#8221;) Shenzhen Hua Yin, a subsidiary of
China Finance, Top King Group Limited (&#8220;Top King&#8221;), Billion Gold Group Limited
(&#8220;Billion Gold&#8221;), Topgood International Limited (&#8220;Topgood&#8221;) the parties have
agreed that in lieu of repayment of the Loans, the Company shall issue 21.0
million shares of its common stock at a price equal to $1.0137 per share (the
&#8220;Shares&#8221;) to the following companies, which assumed the Loans from Shenzhen Hua
Yin, and in the following amounts</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
          <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
            <div id="FTR">
              <div id="GLFTR" style="WIDTH: 100%" align="left">
              </div>
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              <div style="WIDTH: 100%; TEXT-ALIGN: center">
              </div>
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          <div>
            <table cellpadding="0" cellspacing="0" id="list" width="100%">
                <tr valign="top">
                  <td align="right" style="WIDTH: 36pt">
                    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                  </td>
                  <td width="0%" style="WIDTH: 77pt">
                    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Top
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                  </td>
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                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6
      million shares of common stock</font></div>
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          </div>
          <div>
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                    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                  </td>
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                    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Billion
      Gold&#160;</font></div>
                  </td>
                  <td width="0%">
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8
      million shares of common stock</font></div>
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          </div>
          <div>
            <table cellpadding="0" cellspacing="0" id="list" width="100%">
                <tr valign="top">
                  <td align="right" style="WIDTH: 36pt">
                    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                  </td>
                  <td width="0%" style="WIDTH: 77pt">
                    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Topgood&#160;</font></div>
                  </td>
                  <td width="0%">
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7
      million shares of common stock</font></div>
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                </tr>
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          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Following
completion of the transaction and issuance of the Shares, the Loans shall be
deemed paid in full and shall be cancelled, and the Company will have a total of
122.2 million shares of common stock outstanding, and approximately $5.9 million
in short term debt outstanding, with no long term debt outstanding.</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"Given
the present state of the credit markets, we are extremely pleased that the
Company's long term liabilities have been significantly reduced. This
transaction strengthens our balance sheet and allows us to utilize our cash
resources to develop our bromine and specialty chemicals business both
organically and through acquisitions," said Ming Yang, CEO of Gulf Resources.
"These three companies are restricted from selling the shares they are receiving
from the Company during the next six months pursuant to Rule 144, and we are now
negotiating with them to reach an agreement that would prevent them from selling
the shares for a longer period of time. The fact that these three companies
accepted shares of our common stock in lieu of a cash repayment of the Loans
demonstrates their confidence in our growth potential."</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">About
Gulf Resources, Inc.</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gulf
Resources, Inc. operates through two wholly-owned subsidiaries, Shouguang City
Haoyuan Chemical Company Limited (&#8220;SCHC&#8221;) and Shouguang Yuxin Chemical Industry
Co., Limited (&#8220;SYCI&#8221;). The Company believes that it is one of the largest
producers of bromine in the People&#8217;s Republic of China. Elemental Bromine is
used to manufacture a wide variety of compounds utilized in industry and
agriculture. Through SYCI, the Company manufactures chemical products utilized
in a variety of applications, including oil &amp; gas field explorations and as
papermaking chemical agents. For more information, please visit <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.gulfresourcesinc.cn</font>.</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">About
China Finance Capital Holdings, Ltd.</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">China
Finance, Inc. provides financial support and services &#8211; primarily in the form of
surety guarantees, loan guarantees, or short-term loans &#8211; to privately owned
SMEs when they seek access to capital or to be acquired by a United States
reporting company. China Finance provides its services through its wholly owned
indirect subsidiary, Shenzhen Hua Yin Guaranty and Investment Limited Liability
Corporation, which is located in the financial district of Shenzhen, China. The
Company also directly invests in the equity of SMEs through its wholly owned
subsidiary, Value Global International Limited, a British Virgin Islands
company.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="justify">&#160;</div>
          <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
            <div id="FTR">
              <div id="GLFTR" style="WIDTH: 100%" align="left">
              </div>
            </div>
            <div id="PN" style="PAGE-BREAK-AFTER: always">
              <div style="WIDTH: 100%; TEXT-ALIGN: center">
              </div>
              <div style="WIDTH: 100%; TEXT-ALIGN: center">
                <hr style="COLOR: black" noshade size="2">
              </div>
            </div>
            <div id="HDR">
              <div id="GLHDR" style="WIDTH: 100%" align="right">
              </div>
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          </div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Forward-Looking
Statements</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Certain
statements in this news release contain forward-looking information about Gulf
Resources and its subsidiaries business and products within the meaning of Rule
175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange
Act of 1934, and are subject to the safe harbor created by those rules. The
actual results may differ materially depending on a number of risk factors
including, but not limited to, the general economic and business conditions in
the PRC, future product development and production capabilities, shipments to
end customers, market acceptance of new and existing products, additional
competition from existing and new competitors for bromine and other oilfield and
power production chemicals, changes in technology, the ability to make future
bromine asset purchases, and various other factors beyond its control. All
forward-looking statements are expressly qualified in their entirety by this
Cautionary Statement and the risks factors detailed in the Company's reports
filed with the Securities and Exchange Commission. Gulf Resources undertakes no
duty to revise or update any forward-looking statements to reflect events or
circumstances after the date of this release.</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1.3pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">###</font></div>
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