Chatham extends offer closing date

NEWS RELEASE 20-01 January 9, 2020 CHATHAM ROCK EXTENDS SECOND TRANCHE PRIVATE PLACEMENT CLOSING TO JANUARY 31, 2020 WELLINGTON, New Zealand - Chatham Rock Phosphate Limited (TSXV: "NZP" and NZX: "CRP" or the "Company") announces that further to its news release dated December 20, 2019, the Company has obtained an extension from the TSX Venture Exchange of the deadline to complete the previously announced non-brokered private placement of up to up to 4,000,000 units (the "Units") at a price of CAD$0.15 per Unit (NZ$0.177) for gross proceeds of up to CAD$600,000. It is expected that the placement will be completed by January 31, 2020. Each Unit will consist of one common share in the capital of the Company and one transferrable share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to acquire one common share at a price of CAD$0.45 (NZ$0.53) per share at any time prior to the date that is five (5) years from the date of issuance. All information previously reported about the Private Placement as well as the terms and conditions thereof remain the same. For further information please contact: Chris Castle President and Chief Executive Officer Chatham Rock Phosphate Limited 64 21 55 81 85 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. End CA:00346962 For:CRP Type:OFFER Time:2020-01-10 10:25:45