Chatham Rock Phosphate (NZE:CRP) has closed its private placement by issuing a total of around 1.6 million units for CA$0.07 apiece, raising gross proceeds of CA$111,940, according to a Monday New Zealand bourse filing.
Each unit consists of one common share of the company and one transferable share purchase warrant, transferable subject to applicable securities legislation, per the filing.
Each warrant will entitle the holder to acquire one common share at CA$0.20 each with a 12-month expiry from the date of issue, subject to certain conditions, the filing said.
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