Chatham Rock Phosphate Private Placement

NEWS RELEASE 22-2 March 9, 2022





CHATHAM ROCK PHOSPHATE LIMITED
PRIVATE PLACEMENT

WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX:
“CRP” or the “Company") wishes to announce that the Company is proceeding with a non-brokered
private placement (the “Placement”) of up to 10,000,000 units (the “Units”) at a price of CAD $0.17
per Unit (NZ$0.195) for gross proceeds of up to CAD $1,700,000 (NZD $1,900,000).

CRP shares have had strong investor support following recent announcements by the Company
relating to the acquisition of the Korella mine, the application for an exploration permit and at Korella
South, and the proposed establishment of a dicalcic phosphate manufacturing plant.

The funds raised will be used for the following purposes:

 Completion of the permitting process for the Avenir Makatea onshore phosphate
project in French Polynesia

 Exploration and resource definition for both phosphate and rare earths at Korella
South

 General working capital

The Company presently expects that the documentation relating to the acquisition of the Korella
Mining Permit will be executed in the near future and the required Foreign Investment Review Board
approval will follow within the subsequent 40 days.

Each Unit will consist of one common share in the capital of the Company and one (1) transferable
share purchase warrant (“Warrant”), transferable subject to applicable securities legislation. Each
Warrant will entitle the holder thereof to acquire one common share at a price of CAD $0.45 per share
at any time prior to the date that is three (3) years from the date of issuance.

In the event that the common shares of the Company trade on the TSX Venture Exchange at a closing
price of greater than CAD $0.60 per common share for a period of 20 consecutive trading days at any
time after four months and one day after the closing date of the private placement, the Company may
accelerate the expiry date of the Warrants by giving notice to the holders thereof by way of a news
release and in such case the Warrants will expire on the 30
th
day after the date of dissemination of
such news release.

The common shares and Warrants issued pursuant to this proposed offering are subject to a hold
period of four months plus one day after the closing dates of the offering as provided by securities
legislation.

- 2 -

Finders’ fees may be payable in cash to arm’s length parties in connection with this placement as
permitted under the policies of the TSX Venture Exchange. The private placement is subject to the
acceptance by the TSX Venture Exchange and is expected to close on or before April 8, 2022.
Eligible investors are encouraged to contact the Company’s offices immediately if they wish to
participate.


For further information please contact:

Chris Castle, President and CEO
Chatham Rock Phosphate Limited
64 21 55 81 85 or chris@crpl.co.nz




N
either the Exchange, its Regulation Service Provider (as that term is defined under the policies of the Exchange), or New
Zealand Exchange Limited has in any way passed upon the merits of the Transaction and associated transactions, and has
neither approved nor disapproved of the contents of this press release.