Chatham Rock Phosphate (NZE:CRP) closed a private placement of shares, issuing 1.4 million common shares at CA$0.08 per share to raise CA$112,440, according to a Wednesday filing with the New Zealand bourse.
Proceeds will help fast-track mine development at Korella North in Queensland, Australia, continue permitting at the company's Avenir Maketea phosphate project in French Polynesia, and fund general working capital, the filing stated.
The shares are subject to a hold period until Jan. 11, 2025.
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