Gulf Resources Announces the Nomination of Mr. Shengwei Ma to be an Independent Director

Published Apr 13th, 2020

SHOUGUANG, China, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Gulf Resources, Inc. (Nasdaq: GURE) ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced the nomination of Mr. Shengwei Ma to be an independent director of the Company. Mr. Ma has served as a Department Manager of Shouguang City Urban Construction and Investment Group since 2012. Mr. Ma holds a Senior Account Certificate. He graduated from Central Broadcasting and Television University with a bachelor’s degree in accounting in 2004.

Mr. Ma is standing for election at the Company’s annual shareholders meeting to be held on December 18, 2019.

“We are very pleased to have nominated Mr. Shengwei Ma to be an independent director candidate who is expected to fill in the vacancy on the Company’s board of directors upon his election,” Mr. Ming Yang, Chairman of the Board stated. “Mr. Ma has excellent knowledge and experience in accounting and auditing. In addition, Mr. Ma has vast experience in resolving local issues that have been impacting the Company’s business. We believe he will be a valued addition to the board upon his election.”

“We know”, Mr. Yang continued, “shareholders have been concerned about the vacancy of one independent director on our board. We devoted a considerable amount of time to identify the best candidate we could find and hope to resolve this important issue upon Mr. Ma’s election at the annual shareholders meeting.”

About Gulf Resources, Inc.
Gulf Resources, Inc. operates through three wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited ("SCHC"), Shouguang Yuxin Chemical Industry Co., Limited ("SYCI"), and Daying County Haoyuan Chemical Company Limited (“DCHC”). The Company believes that it 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. Through SYCI, the Company manufactures chemical products utilized in a variety of applications, including oil and gas field explorations and papermaking chemical agents, and materials for human and animal antibiotics. DCHC was established to further explore and develop natural gas and brine resources (including bromine and crude salt) in China. For more information, visit www.gulfresourcesinc.com.

Forward-Looking Statements

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.

CONTACT: Gulf Resources, Inc.