Thursday, 22 February 2018

Announcement

OFFER: CRP: CHATHAM ROCK PHOSPHATE LIMITED PRIVATE PLACEMENT

01 Dec 2017 11:13NZX
NEWS RELEASE 17-35
December 1, 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 that:

1) Our recent rights issue raised CAD$ 487,000, with 28.2% of the issue being
taken up by directors, management and other insiders. Management is now the
largest shareholder group holding 12.3% of issued capital. And this is the
eighth time since 2010 that existing shareholders have provided ongoing,
sustained support to their Company in a series of rights issues and share
purchase plans.   A total of 1,372,830 common shares were issued pursuant to
the rights issue.

2) CRP is now proceeding with a non-brokered private placement of up to
3,000,000 units (the "Units") at a price of CAD$0.36 per Unit for gross
proceeds of up to CAD$1,080,000.

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$0.50 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:00311273 For:CRP    Type:OFFER      Time:2017-12-01 11:13:04
Views: 54
Chatham Rock Phosphate
 0.3000 Change:
0.00
0.00%
 
Open:0.3000 
High:0.3000 
Low:0.3000 
Volume:0 
Last Traded:07/02/18 09:07:51 
Bid:0.1000 
Ask:0.3000 
52-Wk High:0.7000 
52-Wk Low:0.0060