Chatham Rock Phosphate, a mineral exploration company focused on the development and exploration of a marine phosphorite deposit offshore New Zealand, has raised approximately $820,000 in new capital.
The allotment consists of new ordinary shares at $0.12 per share with one new listed CRPOB option allotted with each new share.
This completes the company’s funding round at $0.12 per share and funds the company through the decision point for its Marine Consent application.
It is therefore not intended to seek any additional capital until a decision on the application has been made. As previously indicated to the market the company remains optimistic that a decision on the application will be released in the next few weeks.