Chatham Rock Phosphate aims to raise CAD 700,000

Chatham Rock Phosphate Limited (CRP) has announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.07 per unit, with the goal of raising up to CAD 700,000.

Each unit will consist of one common share and one transferable share purchase warrant.

The funds raised will be used to fast-track the development of the Korella North mine, complete the permitting process for the Avenir Makatea project, and for general working capital.

The private placement is subject to acceptance by the TSX Venture Exchange and is expected to close on or before December 21, 2023.