Gulf Resources issues press release related to acquisition of salf fields

Gulf Resources (GURE) issued a press release related to the purchase of additional land for salt fields and bromine. The Company believes that acquiring these salt fields will allow the Company to increase crude salt production and drill additional bromine wells. In evaluating these acquisitions, management calculated that the cash-on-cash returns may provide a payback within the next four to five years, which they consider a strong return on Investment. Liu Xiaobin, the Chief Executive Officer of Gulf Resources stated, “When we considered these acquisitions earlier this year, we were fully aware of their impact on our balance sheet. However, given our belief that Chinese economy is starting to recover, we saw this as a good investment.”