Allotment of Shares and Options

9 September 2013

Chatham Rock Phosphate Limited (NZX: CRP) advises that it has today undertaken placements at $0.30 per share and issued further CRPOB options.

CRP is presently undertaking a private capital raising offer to qualified investors which has the following key features:

• CRP agrees an amount of shares to be subscribed for by an investor in aggregate.
• Half of the shares are subscribed for at an issue price of $0.30 per share (Tranche One).
• The investor commits to subscribing for the balance of the shares at $0.35 per share within 2 weeks of the Company being granted a mining licence in respect of its Chatham Rise phosphorites project (Tranche Two).
• For every two shares subscribed for under Tranche One and Tranche Two, one option (CRPOB) is also allotted to the investor.

CRP is pleased to advise that it has entered investment agreements with qualified investors whereby a total of approximately $900,000 in new capital has been committed under this offering structure. As a result CRP is today allotting the Tranche One component of this amount representing approximately $400,000 in new capital.

Chris Castle

Chief Executive Officer

Email: chris@crpl.co.nz

   

Class of security:                           Ordinary shares

 

                                                      Options (CRPOB)

     

ISIN:                                               NZWENE0003S0

 

                                                      NZCRPE0001S3

     

Number issued:                              1,364,008 ordinary shares

 

                                                       682,004 options

     

Issue price:                                     $0.30 per ordinary share

     

Payment in cash:                            Yes

     

Fully paid:                                        Yes

     

Percentage of class:                        0.97% of shares

 

                                                        45.44% of options

     

Purpose of the issue:                       For working capital purposes towards   permitting of                                                         the Chatham Rise phosphorites project

     

Authority for the issue:                     Board resolutions

     

Date of issue:                                   9 September 2013

     

Total number of securities on issue

  following allotments:                        141,633,184 ordinary shares

 

                                                         2,182,938 options