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Brean Murray, Carret & Co. Completes $25.0 Million Private Placement for Gulf Resources, Inc.
Tuesday, December 22, 2009
Gulf Resources, Inc. (NasdaqGS: GFRE), a leading manufacturer of bromine, crude salt and specialty chemical products in China, closed a private placement of approximately 2.94 million shares of common stock at $8.50 per share for gross proceeds of $25.0 million. The Company intends to use the net proceeds of the private placement to acquire additional bromine and crude salt production assets, as well as for general corporate purposes such as working capital. Brean Murray, Carret & Co. served as the Exclusive Placement Agent for the financing.
Gulf Resources, Inc. is one of the largest producers of bromine in China. Elemental bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. The Company also manufactures other chemical products utilized in a variety of applications, including oil & gas field explorations and as papermaking chemical agents.
Brean Murray, Carret’s Investment Banking Group is dedicated to helping our clients achieve their strategic and financial goals. For over 35 years, the Firm has specialized in providing underwriting, financing, M&A advisory and independent financial advisory services. As demonstrated by our track record, Brean Murray, Carret’s industry knowledge, commitment and experience are critical to ensure a successful transaction.
For further details regarding this transaction or Brean Murray, Carret’s Investment Banking practice, please contact Richard Serrano, Managing Director, at 212.702.6506, John Fletcher, Managing Director, at 212.702.6521 or Derek Woodworth, Managing Director, at 212.702.6545. |
