Tuesday, 19 February 2019


OFFER: CRP: Chatham revises private placement terms

18 Dec 2017 08:30NZX
December 15, 2017

Chatham Revises Private Placement Terms

WELLINGTON New Zealand - Chatham Rock Phosphate Limited (TSXV: "NZP" and
NZAX: "CRP" or the "Company") is pleased to announce that it has revised the
terms of the private placement announced on December 1, 2017.

The non-brokered private placement is now for up to 4,000,000 units (the
"Units") at a price of CAD$0.30 per Unit for gross proceeds of up to

Each Unit will consist of one common share in the capital of the Company and
one-half of one non-transferrable share purchase warrant ("Warrant").  Each
whole Warrant will entitle the holder thereof to acquire one common share at
a price of CAD$0.45 per share at any time prior to the date that is two years
from the date of issuance.

In the event that the common shares of the Company trade on the TSX Venture
Exchange at a closing price of greater than CAD$0.60 per common share for a
period of 20 consecutive trading days at any time after four months and one
day after the closing date of the private placement, the Company may
accelerate the expiry date of the Warrants by giving notice to the holders
thereof by way of a news release and in such case the Warrants will expire on
the 30th day after the date of dissemination of the news release.

The proceeds of this placement (together with the proceeds of the rights
issue) will be used to progress the re-application for the environmental
permit during the next year. The application is expected to be substantially
complete in 12 months'' time.

Finders'' fees may be payable in cash to arm''s length parties in connection
with this placement as permitted under the policies of the TSX Venture
Exchange.  The private placement is subject to the acceptance by the TSX
Venture Exchange.

For further information please contact:

Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited
64 21 55 81 85 or chris@crpl.co.nz

Neither the Exchange, its Regulation Service Provider (as that term is
defined under the policies of the Exchange), or New Zealand Exchange Limited
has in any way passed upon the merits of the Transaction and associated
transactions, and has neither approved nor disapproved of the contents of
this press release.
End CA:00312049 For:CRP    Type:OFFER      Time:2017-12-18 08:30:11
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Chatham Rock Phosphate
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