Chatham Rock Phosphate Ltd. previously announced on June 20, 2018, that it intended to undertake a share purchase plan offer to existing shareholders.
The company now wishes to advise that the closing date for the issue has been extended to
Aug. 24, 2018.
Under the share purchase plan all 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 $5,000 (Canadian), or $5,280 (New Zealand) with the ability to apply for oversubscriptions.
Each unit will consist of one common share in the capital of the company and one-half of one non-transferable share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of 45 Canadian cents 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 60 Canadian cents 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.
Completion of the offering is subject to receipt of the approval of the TSX Venture Exchange to list the common shares underlying the units and the warrants on the exchange. All securities issued pursuant to the offering will be subject to a four-month-and-one-day hold period in Canada in accordance with applicable Canadian securities laws.
