Chatham Rock Phosphate Ltd. has clarified the proposed amendments to the company’s outstanding share purchase warrants announced in its news release dated Feb. 15, 2019. In addition to the warrants set out in the Feb. 15, 2019, news release, the proposed warrant amendments will also include an additional 486,368 share purchase warrants that were issued in January, 2018.
January, 2018, warrants
Pursuant to a private placement completed by the company in January, 2018, the company issued the January, 2018, warrants, which are exercisable at a price of 45 cents per common share and expire on Jan. 24, 2020. The company proposes to extend the expiry date of the January, 2018, warrants from Jan. 24, 2020, to Jan. 24, 2023, being five years from the date of issuance of the January, 2018, warrants. None of the January, 2018, warrants have to date been exercised.
All of the proposed amendments to the January, 2018, warrants and the warrants referenced in the Feb. 15, 2019, news release are subject to the acceptance of the TSX Venture Exchange.
Change of private placement closing date
The company also wishes to advise that the closing date of the current private placement offer is being extended to March 21, 2019. The reason for this extension is primarily due to the company’s attendance at and active participation in the PDAC conference in Toronto in the first week of March, which will be followed up by investor presentations in London, Munich and Zurich.
About Chatham Rock Phosphate Ltd.
Chatham Rock is the custodian of New Zealand’s only material resource of ultralow cadmium, environmentally friendly pastoral phosphate fertilizer. The company’s key role is connecting the resource with those who need it.
The resource represents one of New Zealand’s most valuable mineral assets and is of huge strategic significance because phosphate is essential to maintain New Zealand’s high agricultural productivity.
Chatham rock phosphate has been independently shown to be as effective as other phosphate fertilizers used in New Zealand.
