Chatham Advises of Share Offer to Existing Shareholders

NEWS RELEASE 24-20 June 28, 2024




CHATHAM ROCK PHOSPHATE ADVISES OF SHARE OFFER TO EXISTING
SHAREHOLDERS

WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP”, NZX: 3GRE
Frankfurt Bourse “CRP” or the “Company”) advises that the submission window for subscription in its
non-brokered share private placement has closed today. Chatham is pleased to announce that it has
received subscriptions for the sale of 878,000 common shares (the “Shares”) at a price of CA$0.08
(NZ$0.10, AU$0.09) per Share for gross proceeds of CA$70,240, (NZD$87,800, AU$79,020) (the
“Offering”).

The closing of the Offering is subject to approval by the TSX Venture Exchange. Once issued, all
Shares will be subject to a four month and one day hold period.
.
This Offering, which was only made available to qualified investors, was one of a series of such offers
during the last 12 months which raised CA$1,403,596 (NZ$1,701,827).

It is now intended to offer all of our shareholders an opportunity to invest on the same terms and
conditions in all jurisdictions where such offering is lawfully permitted. It is intended that the form of
the offer in New Zealand be a share purchase plan whereby eligible shareholders, regardless of the size
of their existing shareholding, are offered the opportunity to apply for a minimum of 5,000 Shares and
up to 100,000 Shares. The offer price per Share is CA$0.08 (NZ$0.10).

Depending on how widespread the uptake is, shareholders may have the opportunity to apply for more
than 100,000 Shares.

Canadian resident shareholders who hold shares of the Company as at June 27, 2024 (the “Record
Date”) are eligible to participate in the offering under the Canadian “Existing Shareholder Exemption”.
Any Canadian resident who becomes a shareholder of the Company after the Record Date is not
permitted to participate in the offering using the Existing Shareholder Exemption, but other exemptions
from prospectus requirements may still be available to them. Canadian resident shareholders who wish
to participate in the offering will be required to enter into a Share Subscription Agreement with the
Company, a copy of which will be made available to Canadian resident shareholders upon request.
Canadian resident shareholders who became shareholders after the Record Date should consult their
professional advisors when completing their Share Subscription Agreement form, to ensure that they
use the correct exemption.

There are conditions and restrictions when relying upon the Canadian Existing Shareholder Exemption,
namely, the subscriber must: a) be a shareholder of the Company on the Record Date (and still be a
shareholder), b) be purchasing the Shares as a principal (i.e., for their own account and not for any other
person), and c) may not purchase more than CA$15,000 value of securities from the Company in any
twelve month period. There is one exception to the CA$15,000 subscription limit. In the event that a
subscriber wants to purchase Shares having a value in excess of CA$15,000, then the subscriber may

do so provided that the subscriber has first received suitability advice from a registered investment
dealer. In this case, subscribers will be asked to confirm the registered investment dealer’s identity and
employer.

The Company’s most recent share purchase plan offering was in 2018 and raised CA$180,000
(NZ$201,580).

The Company intends to use the net proceeds raised in the offering as follows:

• Continuing the fast tracking the development of the Korella North mine, the latter presently
anticipated to be in production in Q4, 2024
• Completion of the permitting process for the Avenir Makatea onshore phosphate project in
French Polynesia with expected operating cash flows in 2027
• General working capital

It is anticipated that operating cash flows from the Korella North mine will, during 2024 and 2025,
provide working capital while also financing the development of our Korella South mine and the
reapplication for a Marine Consent (environmental permit) for our Chatham Rise project.

Completion of the offering is subject to receipt of the approval of the TSX Venture Exchange. All
securities issued pursuant to the offering in Canada will be subject to a four month and one day hold
period from the date of issuance of the Shares in accordance with applicable Canadian securities laws.



For further information please contact

Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited
64 21 558 185 or chris@crpl.co.nz




Neither 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.


CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release may contain certain “forward looking statements”. Forward-looking statements involve known
and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or
achievements of the Company to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the
date of this news release and, except as may be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement, whether as a result of new information, future
events or results or otherwise.