Chatham Rock Phosphate Reveals Secured Loan to Fund Chatham Rise Project

Chatham Rock Phosphate ( (TSE:NZP) ) has issued an announcement.

Chatham Rock Phosphate has disclosed that its subsidiary, Chatham Rock Phosphate (NZ) Limited, entered into a secured loan agreement on August 9, 2025, with arm’s length lender Wetstone Global Inc. for USD$150,000 in working capital, an announcement the company says was omitted at the time in error. The loan is secured over the assets of the New Zealand unit, specifically the Chatham Rise project, and includes a provision for potential conversion into shares of the subsidiary if a definitive equity financing transaction is concluded, providing flexible funding options without incurring finder’s fees.

The structure of the financing underscores the company’s ongoing efforts to support the development of its flagship marine phosphate project while preserving balance-sheet flexibility. By tying conversion rights to future equity financing, Chatham Rock Phosphate has secured near-term liquidity for operations at Chatham Rise while potentially limiting immediate dilution for existing shareholders, a move that could influence how investors assess the project’s funding pathway and risk profile.

More about Chatham Rock Phosphate

Chatham Rock Phosphate Limited is a mineral exploration and development company focused on marine phosphate resources, primarily through its Chatham Rise project off New Zealand. The company is listed on the TSX Venture Exchange, the New Zealand Exchange, and the Frankfurt Stock Exchange, targeting the fertilizer and agricultural nutrient markets through seabed phosphate extraction.

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