Key points
- Chatham Rock Phosphate moved its incorporation from British Columbia to New Zealand on July 31, 2026, ahead of an NZX listing.
- The Company expects to relist on the NZX within about four weeks; the Wetstone Global transaction remains on track.
- CRP keeps a free carried 25% interest and a 2% royalty in the Chatham Rise project under the Wetstone deal.
- A private placement priced at NZ$0.05 per share, not a retail offer, is expected to close on October 16, 2026.
Dear Chatham Shareholder, Stakeholder or Prospective Investor,
As you are aware we recently announced our intention to transfer our primary stock exchange listing to the New Zealand Stock Exchange (NZX) and to delist from the TSXV in Canada.
A prerequisite step was to transfer our primary company incorporation from British Columbia to New Zealand and this was achieved on 31 July 2026.
Our listing on NZX requires the preparation and lodging of a comprehensive Listing Profile accompanied by audited financial statements and these milestones are well advanced. At present we expect the relisting to be in place within the next four weeks although there are other related steps needed to be followed that are not under our control.
These partially relate to the announced transaction with Wetstone Global which is still very much on track. For further details as to the terms of the transaction, please see our previous market announcements at www.rockphosphate.co.nz/news.
CRP will retain a free carried 25% interest in the Chatham Rise project and will also hold a 2% royalty.
The transaction is a life saver for Chatham and as previously advised is the most significant announcement since we were granted the Chatham Rise mining permit in December 2013.
The Listing Profile will contain a comprehensive outline of the Wetstone business plan and future strategy for the Chatham Rise.
Proposed Private Placement
Although Wetstone Global will provide funding towards development of the Chatham Rise project, CRP will still be incurring the costs associated with being Stock Exchange listed, including listing, audit, directors / management, and legal fees. Hence a decision has been made to immediately proceed with a private placement of shares. On this occasion this is not a retail offer, however it is proposed to make retail share offers in future once we are relisted.
The offer is priced at NZD 5 cents per share, which was the closing price on 16 July, the day we announced that CRP would be delisting at the end of July. That offer price equates to CAD 4 cents and AUD 4 cents.
The offer is expected to close on Friday 16 October.
Existing shareholders and potential investors who consider themselves eligible to invest are invited to email me and I will send you the subscription agreement. There is no minimum subscription.
Regards,
Chris Castle
Managing Director
Chatham Rock Phosphate Limited
