Business
Chatham Rock Closes Second Tranche of Private Placement
Chatham Rock Closes Second Tranche of Private Placement Canada NewsWire WELLINGT...
About this update from Chatham Rock Phosphate Limited
[{"type":"text","content":"\n\n\n\nChatham Rock Closes Second 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, April 23, 2019\n\n\n\nWELLINGTON, New Zealand, April 23, 2019 /CNW/ - Chatham Rock Phosphate Limited (TSXV: \"NZP\" and NZAX: \"CRP\" or the \"Company\") is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered Private Placement.  A total of 1,352,055 Units have been sold at a price of CAD$0.1275 per Unit for gross proceeds of CAD$172,387.01. 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 August 24, 2019.  \nThe proceeds of this placement will be used for general working capital purposes.  \nAbout Chatham Rock Phosphate\nChatham Rock Phosphate is the custodian of New Zealand's only material resource of ultra-low cadmium, environmentally friendly pastoral phosphate fertiliser.  Our key role is connecting the resource with those who need it. \nThe resource represents one of New Zealand's most valuable mineral assets and is of huge strategic significance because phosphate is essential to maintain New Zea...