Chatham Rock Phosphate - CRP

[Sideshow Bob]

More cash...….


Chatham advises of further private placement

8/5/2020, 8:30 amOFFER

NEWS RELEASE 20-06 May 7, 2020
CHATHAM ROCK PHOSPHATE LIMITED
PRIVATE PLACEMENT
WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZAX: “CRP” or the “Company") recently sucessfuly raised further working capital to keep the company in good standing as we continue to pursue our objective of securing a new cornerstone investor to fund our environmental permit reapplication.
Based on the success of the financing that has just closed, the Company is proceeding with a further non-brokered private placement of up to 12,500,000 units (the “Units”) at a price of CAD $0.08 per Unit (NZ$0.10) for gross proceeds of up to CAD $1 million (NZD $1.25 million) subject to regulatory approvals. Significantly, the Company has partnered with Stockhouse as part of this fundraising initiative and we expect that their global reach will materially assist CRP in reaching our target.
This level of funding will sustain the company well into 2021 during which period our main focus will be on advancing our Chatham Rise project while securing a business partner to work with us.
Each Unit will consist of one common share in the capital of the Company and one (1) transferable share purchase warrant (“Warrant”), transferable subject to applicable securities legislation. Each Warrant will entitle the holder thereof to acquire one common share at a price of CAD $0.45 (NZ$0.53) 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 (NZ$0.71) 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 such news release.
The common shares and Warrants issued pursuant to this proposed offering are subject to a hold period of four months plus one day after the closing dates of the offering as provided by securities legislation.
Finders’ fees may be payable in cash to arm’s length parties in connection with this placement as permitted under the policies of the TSX Venture Exchange. The private placement is subject to the acceptance by the TSX Venture Exchange and is expected to close on or before June 24, 2020.
For further information please contact:
Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited
64 21 55 81 85 or chris@crpl.co.nz

[winner69]

Working under lockdown must be hard for him

[Sideshow Bob]

Missed the latest announcement yesterday....

http://nzx-prod-s7fsd7f98s.s3-websit...158/327416.pdf

To end of March, so definitely needed those funds raised in May/June to keep the company afloat......and the grass cut.

[Nor]

https://m.phnompenhpost.com/business...make-batteries

[Ferg]

This is almost a Monty Python skit - we need to raise some working capital to find a cornerstone investor to do some research to apply for a licence, to do an exploratory study to see if the mining is still feasible, some years after existing permits been cancelled but don't mind that - oh look..... Namibia! It is laughable.

[Nor]

It's only regulation that stands in it's way. Not economics or feasibility. Like all mining activities the return generated from the area involved is much greater than that from agriculture (fishing) and the area involved (footprint) is tiny compared to that devoted to agriculture or fishing.

[Getty]

Sell your company for $53m worth of shares in a company where they are worth $0.001 per share.

How many zero's is that?

What am I missing....??

ITS NOT ANY ZEROS that are missing.

Its an A in the company code.

I'll let you decide where it fits

Afterall, it is a fertilizer company.

[Sideshow Bob]

ITS NOT ANY ZEROS that are missing.

Its an A in the company code.

I'll let you decide where it fits

Afterall, it is a fertilizer company.

Indeed. What we need to buy-in and then start pumping CRaP on elsewhere for it to become the next BGI or CBD....

[artemis]

Interesting announcement to the market today.

"Phosphate fertilizer prices in the U.S. corn belt had their biggest quarter
in a decade as buyers cope with a supply shock caused by potential import
duties against Morocco and Russia. "

Meanwhile in New Zealand we have a large concentration of v low cadmium phosphate in our rather large EEZ. If only we are allowed to access it.

Also meanwhile, the TTR ironsands extraction project drags on through the courts, next hearing in November. There is a map at the below link showing how small an area is involved. One would think Taranaki would be keen to create jobs and revenue.

https://www.stuff.co.nz/national/pol...management-act

[Brain]

I see that the NZSA are voting all their undirected proxy’s against Chris Castle being elected as a director. They say that he does not have the skills required.

Well done NZSA.