Announcement
OFFER: CRP: Chatham further extends private placement closing date
01:12pm
CRP
11/06/2021 13:12
OFFER
PRICE SENSITIVE
REL: 1312 HRS Chatham Rock Phosphate Limited
OFFER: CRP: Chatham further extends private placement closing date
NEWS RELEASE 21-08 June 10,
2021
CHATHAM ROCK FURTHER EXTENDS PRIVATE
PLACEMENT CLOSING UP TO JULY 17, 2021
WELLINGTON, New Zealand - Chatham Rock Phosphate Limited (TSXV: "NZP" and
NZX: "CRP" or the "Company") announces that further to its news releases
dated May 4, and May 31, 2021, the Company has obtained a third extension
from the TSX Venture Exchange ("TSXV") of the deadline to complete the
previously announced non-brokered private placement.
The new deadline of 17 July for the closing of the private placement is
necessary to allow sufficient time for the TSXV to complete the approval
process for the Avenir Makatea acquisition as both approvals are linked.
The private placement is for up to 6,000,000 units (the "Units") at a price
of CAD $0.11 per Unit (NZ$0.12) for gross proceeds of up to CAD $660,000 (NZD
$720,000). Each Unit will consist of one common share in the capital of the
Company and one transferable share purchase warrant ("Warrant"). Each
Warrant will entitle the holder thereof to acquire one common share at a
price of CAD$0.45 (NZ$0.53) per share at any time prior to the date that is
five (5) years from the date of issuance.
All information previously reported about the Private Placement as well as
the terms and conditions thereof remain the same.
The Company proposes to use the funds to provide updated socio-economic and
environmental reports to facilitate the grant of the Avenir Makatea mining
concession and for general working capital.
And, despite the delays in finalizing the acquisition, the Company reports
that steady progress is being made within Avenir Makatea with respect to
other aspects of the mining concession mining application, as well as project
financing, the port, mine and processing plant infrastructure design, and
market development.
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), nor New Zealand Exchange Limited
has in any way passed upon the merits of the Acquisition and associated
transactions, and none of them accepts responsibility for the adequacy or
accuracy of this release.
End CA:00373781 For:CRP Type:OFFER Time:2021-06-11 13:12:06
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