October 13, 2008
Gulf Resources Announces Resignation of Kevin J. McEnery As Managing Director – Finance
Gulf Resources, Inc. (OTCBB: GFRE) ("Gulf" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced the resignation of its Managing Director - Finance, Kevin J. McEnery, effective October 10, 2008. Mr. McEnery resigned for personal reasons.
Until the Company has found a suitable replacement for the position, Rena Xiao and Helen Xu will serve as principal contact persons of Gulf Resources on behalf of the management team.
"We would like to thank Kevin for his many valuable contributions to Gulf Resources, Inc. over the past two years. He has done an outstanding job in coordinating financial activities and reporting requirements for us as a U.S. listed public company and we wish him success in his future endeavors," said Ming Yang, Chief Executive Officer of Gulf Resources. "We are actively seeking a highly qualified candidate to fill this position as soon as possible."
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited ("SCHC") and Shouguang Yuxin Chemical Industry Co., Limited ("SYCI"). The Company believes that it is the largest producer 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 & gas field explorations and as papermaking chemical agents. For more information, please visit the Company's website: www.gulfresourcesco.com
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.