Chatham Rock Phosphate extends private placement closing date

Chatham Rock Phosphate has announced an extension of the closing date for its non-brokered private placement.

The closing date, originally set for December 15, 2023, has been extended to January 15, 2024.

The private placement involves up to 10 million units at a price of $0.07 per unit, with the potential to raise up to CAD 700,000.

Each unit includes one common share and one transferable share purchase warrant.

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

The private placement is subject to the acceptance of the TSX Venture Exchange and eligible investors are encouraged to participate.