CHNR - Why China Natural Resources (CHNR) Stock Is Nosediving | Benzinga

China Natural Resources Inc (NASDAQ:CHNR) shares are trading lower by 42% to $2.00 Friday morning after the company arranged a registered direct placement of approximately $3.27 million worth of common shares at $2.20 per share with institutional investors.

This agreement also includes a concurrent private placement of common share warrants exercisable for up to 1,115,903 shares at $3.00 per share, with a term of 42 months. The offering is anticipated to finalize around February 21, 2024, pending customary closing conditions.

Proceeds from the placement will primarily be allocated for general working capital purposes. FT Global Capital, Inc. served as the exclusive placement agent for the deal.

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