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Nevada Organic Phosphate Inc
Symbol NOP
Shares Issued 53,312,705
Close 2025-02-20 C$ 0.035
Market Cap C$ 1,865,945
Recent Sedar Documents

Nevada Organic closes $100,000 private placement

2025-02-21 17:11 ET - News Release

Mr. Robin Dow reports

NEVADA ORGANIC PHOSPHATE CLOSES UNIT OFFERING

Further to Nevada Organic Phosphate Inc.'s news releases dated Oct. 11, 2024, and Nov. 8, 2024, it has closed its previously announced non-brokered private placement for gross aggregate proceeds of $100,000 through the issuance of 2.5 million units of the company at a price of four cents per unit.

Each unit consists of one common share in the capital of the company and one share purchase warrant, with each warrant entitling the holder thereof to purchase one additional share at a price of eight cents per warrant share for a period of 60 months following the date of issuance. Each warrant will be subject to an acceleration provision providing that, if the volume weighted average price for the company's common shares on the Canadian Securities Exchange is equal to or greater than 12 cents for a period of 10 consecutive trading days at any time after the date of issue, the company can accelerate the expiry date of the warrants by disseminating a news release advising the holders of the acceleration and, in such case, the warrants will expire on the thirtieth day after the date of such notice.

The aggregate proceeds of the offering are anticipated to be used for advancement of the company's Murdock property and for general working capital. No fees were paid in connection with closing.

All securities issued in connection with the closing are subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45-102 -- Resale of Securities. The offering remains subject to regulatory approval and the approval of the Canadian Securities Exchange (CSE).

Nevada Organic Phosphate Inc.

Nevada Organic is a junior exploration company with a sedimentary rock phosphate property (the Murdock property) hosting a nearly flat-lying sedimentary bed of known phosphate mineralization in northeast Nevada.

The increasing interest in organic and sustainable agriculture practices has contributed to the demand for organic fertilizers, including those derived from rock phosphate. Organic rock phosphate is often marketed as a fertilizer that not only provides phosphorus but also contributes to overall soil health.

The issuer aims to be one of the only certified organic rock phosphate producers with large-scale potential in North America. The Murdock property is situated adjacent to a main highway and the rail head to California.

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