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Nevada Organic Phosphate Inc
Symbol NOP
Shares Issued 56,712,705
Close 2025-05-22 C$ 0.025
Market Cap C$ 1,417,818
Recent Sedar Documents

Nevada Organic closes first tranche of financing

2025-05-22 18:02 ET - News Release

Mr. Robin Dow reports

NEVADA ORGANIC PHOSPHATE CLOSES $225,900 TRANCHE OF $300,000 UNIT OFFERING

Nevada Organic Phosphate Inc., further to its news release dated May 13, 2025, has closed the first tranche of its previously announced non-brokered private placement for gross aggregate proceeds of $225,900 through the issuance of 7.53 million units of the company at a price of three 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 five cents per warrant share for a period of 60 months following the date of issuance.

The aggregate proceeds of the first tranche are anticipated to be used for advancement of the company's Murdock property and for general working capital. Fees of $15,090 were paid and 503,000 finders' units were issued to certain finders in connection with the first tranche. Each finder's unit consists of one share and one finder's share purchase warrant, with each finder's warrant entitling the holder thereof to purchase one additional share at a price of five cents per finder's warrant share for a period of 60 months following the date of issuance.

Each warrant and finder's 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 (or such other exchange on which the common shares may be traded at such time) is equal to or greater than eight 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 30th day after the date of such notice.

All securities issued in connection with the first tranche 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.

About Nevada Organic Phosphate Inc.

Nevada Organic Phosphate 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 northeastern 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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