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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.