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Chatham Rock Phosphate advises of share offer to existing shareholders
Chatham Rock Phosphate advises of share offer to existing shareholders Canada News...
About this update from Chatham Rock Phosphate Limited
[{"type":"text","content":"\n\n\n\nChatham Rock Phosphate advises of share offer to existing shareholders\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, June 20, 2018\n\n\n\nWELLINGTON, New Zealand, June 20, 2018 /CNW/ - Chatham Rock Phosphate Limited (TSXV: \"NZP\" and NZAX: \"CRP\" or the \"Company\") advised on 14 June that it had closed a non-brokered private placement of 2,345,771 units (the \"Units\") at a price of CAD$0.25 per Unit for gross proceeds of CAD$586,443.  \n\nEach Unit consisted of one (1) common share in the capital of the Company and one-half of one (½) non-transferable share purchase warrant (\"Warrant\").  Each whole Warrant entitled 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 two 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.\n\nThis placement, which was only able to be made to qualified investors, was one of a series of such offers during the last 12 months which raised CAD$870,000. \n\nIt is now intended to offer all of our shareholders an opportunity to invest on the same terms and conditions in all jurisdictions where such offering is lawfully permitted.  It is intended that the form of the offer be a share purchase plan whereby shareholders, regardless of the size of their existing shareholding, are offered the opportunity to purchase up to 20,000 Units at a cost of up to CAD$5,000, or NZD$5,280.  Depending on how widespread the uptake is, shareholders may have the opportunity to apply for more than 20,000 Units.  It is...