Chatham Rock Phosphate Private Placement Closes

Chatham Rock Phosphate Limited has closed its non-brokered private placement of 5,380,464 units at a price of CAD $0.13 (NZ $0.154) per Unit for gross proceeds of CAD$699,460 (NZ$828,591).

The funds raised will be used for the completion of the permitting process for the Avenir Makatea onshore phosphate project in French Polynesia, fast tracking the mine development at Korella North in Queensland, and general working capital.

The securities issued pursuant to the private placement are subject to a hold period and may not be traded until November 15, 2023.