Nevada Organic Phosphate Announces New Funding Target of $500,000, BLM Processes and Guidance
Nevada Organic Phosphate Announces New Funding Target of
$500,000, BLM Processes and Guidance
Vancouver, British Columbia, June 11, 202 4. Nevada Organic Phosphate Inc.
(“NOP” or the “Company) (CSE: NOP), a B .C. based company engaged in the
exploration, in Nevada, for organic, sedimentary raw rock phosphate, wishes to provide
an update to its previously announce d non-brokered private placement. Further to the
Company’s news release dated May 18, 2024 and due to high investor interest, the
Company is increasing its target for its current private placement from $150,000 to
$500,000 (the “ Offering”). The Company now intends to issue an aggregate of
10,000,000 units (each a “Unit”) at a price of $0.05 per Unit, with each Unit consisting of
one common share of the Company (each a “Share”) and one common share purchase
warrant exercisable at a price of $0.10 per Share for a period of five years from the date
of closing.
The Company expects to close the Offering on the day that NOP receives confirmation
from the Bureau of Land Management (“BLM”) that the NOP Environmental Assessment
Reports (“EA’s”) have been posted on the BLM website for public comment for a period
of 30 days. Upon completion of the review period, the BLM may then issue to NOP a
“Prospecting Permit” which shall allow the Company to commence it’s drill programme.
The Company’s capitalization structure is still tight as detailed in the below capitalization
table on a fully diluted basis.
Total issued and outstanding common shares 47,907,705
Total options outstanding 4,325,000
Total warrants outstanding 11,002,465
Total issued and outstanding - Fully Diluted 63,235,170
NOP also announces that it has been informed by the BLM that some internal processes and
guidance pertaining to the Environmental Assessments at the Company’s Murdock Property ,
have recently changed and now require additional internal reviews for BLM media releases. It is
now estimated that an additional 2 -4 weeks of internal BLM reviews will be required before the
public disclosure of the Company’s EA and the public comment period will begin.
NOP CEO Robin Dow comments: “The Company has been working very diligently for the
past two years to obtain our exploration license. We are now in the final stages of obtaining
our approvals. In the meantime, our geological team is working on preparing our
exploration plan and are contacting drilling companies as part of our tendering process.
We wish to thank all of our shareholders for their continued support of our optimistic path
forward.”
Nevada Organic Phosphate Inc.
NOP 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 NE 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.
For More Information
Robin Dow, CEO
T: 604.355.9986
Neither the Canadian Securities Exchange nor its regulations services providers have reviewed or accept
responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements and information (“FLSI”) within the meaning of
applicable securities laws. FLSI may include expectations, anticipations, beliefs, opinions, plans, intentions,
estimates, forecasts, projections, guidance or other similar statements and information that are not historical
facts. All statements which are not historical statements are considered FLSI. Forward- looking statements
in this press release include, but are not limited to, statements regarding the Offering, the BLM and the
anticipated timing of approvals and or closing. All FLSI is based on assumptions, which may prove
inaccurate, and subject to certain risks and uncertainties, including without limitation those risks and
uncertainties identified in the Company’s public securities filings, which may cause actual events or results
to differ materially from those indicated or implied in FLSI. Accordingly, readers should not place undue
reliance or value on FLSI. Although the Company believes that the expectations reflected in any FLSI in
this news release are reasonable at the present time, it can give no assurance that such FLSI will prove to
be correct. Any FLSI in this news release is made as of the date hereof and the Company undertakes no
obligations to publicly update or revise any FLSI, whether as a result of new information, future events or
otherwise, unless required by applicable securities laws. Any FLSI in this news release is expressly
qualified in its entirety by this cautionary statement.