raising 6m in placement plus consolidation

Chrome Corp raising $6m in placement, to consolidate
11:43, Tuesday, 15 May 2007

Sydney - Tuesday - May 15: (RWE Aust Business News) - Chrome Corp
(ASX:CCI) will seek shareholder approval to place up to 60 million shares
at 10c each plus 30m options to raise $6m with institutional investors to
fund the final stages of the development of the Ruighoek chrome project,
in South Africa.
The company is also seeking approval for a consolidation of the
CCI share capital on the basis of every twenty fully paid ordinary shares
be consolidated into one fully paid ordinary CCI share.
The company has also received a detailed draft proposal from an
international specialist banking group with natural resources banking
capabilities in Australia, United Kingdom and South Africa to provide
banking facilities.
These facilities will be used to fund the redemption of the $6m
in listed convertible notes and the remaining $1.2m in loan notes.
In addition, development and working capital facilities are to be
provided for use at Ruighoek plus stockpile finance and foreign exchange
facilities.