WELLINGTON, New Zealand,
June 25, 2018 /CNW/ - Chatham Rock
Phosphate Limited (TSXV: "NZP" and NZAX: "CRP" or the "Company")
advised on 21 June that it intended to undertake a share purchase
plan offer to existing shareholders.
CRP now wishes to confirm the timetable for the offering as it
relates to New Zealand resident
shareholders:
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Record
Date:
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5pm, Friday 29 June
2018.
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|
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Offer
Opens:
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Monday 2 July
2018.
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|
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Offer
Closes:
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Friday 20 July
2018.
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Allotment:
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on or before Friday
27 July
2018.
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The offer will also be made to Canadian resident shareholders
however the record date for the Canadian component of the offering
was 19 June 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
CAD$5,000, or NZD$5,280 with the
ability to apply for oversubscriptions.
Each Unit will consist 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 entitles the holder 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.
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.
Neither the Exchange, its Regulation Service Provider (as
that term is defined under the policies of the Exchange), or NZX
Limited has in any way passed upon the merits of the Transaction
and associated transactions, and has neither approved nor
disapproved of the contents of this press release.
SOURCE Chatham Rock Phosphate