Chatham Rock Phosphate Limited has announced its plans for a non-brokered private placement of up to 10,000,000 units, with each unit consisting of one common share and one transferable share purchase warrant.
The placement is expected to raise up to CAD $1,700,000 (NZD $1,900,000) and the funds will be used for the completion of the permitting process for the Avenir Makatea onshore phosphate project in French Polynesia, exploration and resource definition for both phosphate and rare earths at Korella South, and general working capital.
The placement is subject to the acceptance by the TSX Venture Exchange and is expected to close on or before April 8, 2022.
Finders’ fees may be payable in cash to arm’s length parties in connection with this placement.
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