NEWS RELEASE 17-15 June
13, 2017
CHATHAM ROCK PHOSPHATE LIMITED
PRIVATE PLACEMENT
WELLINGTON New Zealand - Chatham Rock Phosphate Limited (TSXV: "NZP" and
NZAX: "CRP" or the "Company") is pleased to announce a non-brokered private
placement of up to 900,000 units (the "Units") at a price of CAD$0.50 per
Unit for gross proceeds of up to CAD$450,000. Each Unit will consist of one
common share in the capital of the Company and one-half of one
non-transferable share purchase warrant ("Warrant"). Each whole Warrant will
entitle the holder thereof to acquire one common share at a price of CAD$1.00
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$1.20 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 will be used for general working
capital purposes. There will be a finders'' fee 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:00302534 For:CRP Type:GENERAL Time:2017-06-14 12:04:51