Nevada Organic Phosphate Closes $105,000 Initial Tranche of Unit Offering
Nevada Organic Phosphate Closes $105,000 Initial Tranche of Unit
Offering
Vancouver, British Columbia, December 6, 2023. 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, is pleased to
announce that, further to its news release dated October 17, 2023, it has closed the first
tranche of its previously announced non-brokered private placement for gross aggregate
proceeds of $105 ,000 (the “First Tranche”) through the issuance of 2,100,000 units of
the Company (each, a “Unit”) at a price of $0.05 per Unit.
Each Unit consists of one common share in the capital of the Company (each, a “Share”)
and one Share purchase warrant (each, a “ Warrant”), with each Warrant entitling the
holder thereof to purchase one additional Share (each, a “ Warrant Share”) at a price of
$0.10 per Warrant Share for a period of sixty 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 $8,500 were paid and 170,000 finder’s units were issued (the "Finder's Units")
to certain finders in connection with the First Tranche. Each Finder's Unit consists of one
Share and one finder’s Share purchase warrant (each, a “Finder’s Warrant”), with each
Finder’s Warrant entitling the holder thereof to purchase one additional Share (each, a
“Finder’s Warrant Share”) at a price of $0.10 per Warrant Share for a period of sixty
months following the date of issuance.
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 (“CSE”).
None of the securities sold in connection with the First Tranche have been and will not
be registered under the United States Securities Act of 1933, as amended, and no such
securities may be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities
in the United States or any jurisdiction in which such offer, solicitation or sale would be
unlawful.
Nevada Organic Phosphate Inc.
NOP is a a junior exploration company with a sedimentary rock phosphate property (the
“Murdock Property”) hosting a nearly flat lying bed of known phosphate mineralization
6.6 km long in NE Nevada. 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 proposed Offering and the
anticipated use of proceeds of the Offering. 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.