Chatham Rock closes $133,891 private placement

Executive Summary

• Chatham Rock Phosphate Ltd. has closed a non-brokered private placement of 2,677,822 common shares at $0.05 CAD per share.
• Gross proceeds totaled $133,891.10 CAD ($166,024.96 NZD), which will be allocated to general working capital.
• The transaction includes significant related-party participation by company insiders and relies on specific regulatory exemptions from formal valuation and minority shareholder approval requirements under MI 61-101.

Key Details

• Structure: Non-brokered private placement
• Shares Issued: 2,677,822 common shares
• Price: $0.05 CAD per share ($0.062 NZD)
• Gross Proceeds: $133,891.10 CAD ($166,024.96 NZD)
• Use of Proceeds: General working capital
• Hold Period: 4 months plus 1 day post-closing, per securities legislation
• Regulatory Status: Subject to final approval of the TSX Venture Exchange
• Finders' Fees: None payable
• Insider Participation: 1.18 million shares acquired by company insiders
• Regulatory Exemptions: Relies on MI 61-101 sections 5.5(a) and 5.7(1)(a) for related-party transactions, as the fair market value of the related-party portion did not exceed 25% of the company's market capitalization