Mr. Robin Dow reports
NEVADA ORGANIC PHOSPHATE INCREASES UNIT OFFERING AND CLOSES SECOND TRANCHE
Nevada Organic Phosphate Inc., further to its news releases dated May 13, 2025, and May 22, 2025, has closed the second tranche of its previously announced non-brokered private placement for gross aggregate proceeds of $100,548 through the issuance of 3,351,600 units of the company at a price of three cents per unit. Together with proceeds from the first tranche the company has raised total proceeds of $326,448 in the current offering. The company also announces that due to high investor interest it is increasing the unit offering to accommodate oversubscriptions and intends to close a third and final tranche soon.
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.
Fees of $4,500 were paid and 302,000 finders' units were issued to certain finders in connection with the second 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. The aggregate proceeds of the second tranche are anticipated to be used for advancement of the company's Murdock property and for general working capital.
All securities issued in connection with the fourth 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 (CSE).
Nevada Organic Phosphate Inc.
NOP is a junior exploration company with a sedimentary rock phosphate 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.
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