CHATHAM ROCK PHOSPHATE LIMITED PRIVATE PLACEMENT

NEWS RELEASE 25-02 January 21, 2025

CHATHAM ROCK PHOSPHATE LIMITED
PRIVATE PLACEMENT

WELLINGTON New Zealand – Chatham Rock Phosphate Limited, “CRP” or “the Company”
(TSXV: “NZP”, NZX: “CRP” FSE “3GRE”) wishes to announce that the Company is proceeding
with a non-brokered private placement (the “Private Placement”) of up to 5,000,000 units (the
“Units”) at a price of CAD 0.07 per Unit (NZD 0.086 or AUD 0.078) for gross proceeds of up to
CAD 350,000 (NZD 430,000 or AUD 390,000).

Terms of the Issue

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 $0.20 per share
at any time prior to the date that is twelve months 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 $0.30 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 date of the Private Placement as provided by
securities legislation.

Finders’ fees may be payable in cash to arm’s length parties in connection with the Private 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 February 28, 2025.

Disposition of Funds

The Private Placement funds raised will be used for the following purposes:

• Completion of the permitting process for the Avenir Makatea onshore phosphate project in
French Polynesia with expected operating cash flows in 2026
• The first steps in a Fast Track reapplication for a Marine (Environmental) Consent on the
Chatham Rise
• General working capital

These funds would be augmented by the proceeds of sale of the Korella North and Korella South
Queensland based phosphate projects and the subsequent associated royalties (see the Company’s
press release dated January 20, 2025), however, there is no guarantee that the sale of the Korella
projects will close.

Eligible investors are encouraged to contact me directly immediately if they wish to participate.

For further information please contact:

Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited
64 21 55 81 85, chris@widespread.co.nz 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.