CHNR Announces Non-Binding Letter of Intent to Acquire Majority Stake in HooRii Technology, Marking Strategic Shift to Physical AI
Summary
China Natural Resources (CHNR) signed a non-binding letter of intent to acquire a subsidiary that will hold 59.79% of HooRii Technology, with total consideration estimated at US$37–40 million in cash and stock. The deal marks a strategic shift for CHNR from mining toward deploying HooRii's physical AI and IoT technology to optimize mining workflows, safety, and cost efficiency while pursuing new revenue in the embodied AI market. HooRii, founded in 2021, has developed Thread protocol products and launched ClawStage, an embodied personal AI that quickly gained significant user and impression traction, and has raised over $7M from venture funds. The transaction remains subject to due diligence, regulatory and corporate approvals, and a definitive agreement before closing.