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Chatham Rock Closes First Tranche of Private Placement
Chatham Rock Closes First Tranche of Private Placement Canada NewsWire WELLINGTO...
About this update from Chatham Rock Phosphate Limited
[{"type":"text","content":"\n\n\n\nChatham Rock Closes First Tranche of Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWELLINGTON, New Zealand, March 26, 2019\n\n\n\nWELLINGTON, New Zealand, March 26, 2019 /CNW/ -  Chatham Rock Phosphate Limited (TSXV: \"NZP\" and NZAX: \"CRP\" or the \"Company\") is pleased to announce, further to the Company's news releases dated January 30 and February 15, 2019, that it has closed the first tranche of a non-brokered private placement of 3,513,329 units (the \"Units\") at a price of CAD$0.1275 per Unit for gross proceeds of CAD$447,949.44.  Each Unit consists of one (1) common share in the capital of the Company and one-half of one (½) non-transferable share purchase warrant (\"Warrant\").  \nEach whole Warrant entitles the holder thereof to acquire one common share at a price of CAD$0.45 per share at any time prior to the date that is five (5)years from the date of issuance.  In the event that the common shares of the Company trade on the TSX Venture Exchange at a closing price of greater than CAD$0.60 per common share for a period of 20 consecutive trading days at any time after four months and one day after the closing date of the private placement, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof by way of a news release and in such case the Warrants will expire on the 30th day after the date of dissemination of the news release.\nAll securities issued pursuant to the private placement are subject to a hold period and may not be traded until July 27, 2019.  \nThe Company plans to complete a second tranche of the private placement and announces that it has obtained an extension from the TSX Venture Exchange of the deadline to complete the second tranche to April 19, 2019.  \nAll information previously reported about the Private Placement as well as the terms and conditions thereof remain the same.\nAbout Chatham Rock Phosphate\nChatham Rock Phosphate is the custodian of New Zealand's only material resource of ultra-low cadmium, environmen...