On August 20, 2024, a company based in British Columbia, Nevada Organic Phosphate Inc. (CSE: NOP), announced the closure of the fourth tranche of its non-brokered private placement. The company raised $75,000 through the issuance of 1,500,000 units of the Company at a price of $0.05 per unit. Each unit comprises one common share and one share purchase warrant.
The proceeds from this tranche will be used to progress the Company’s Murdock Property and for general working capital purposes. No fees were paid for the closing of this tranche, and all securities issued are subject to a statutory hold period as per National Instrument 45-102.
Additionally, the Company issued 2,000,000 common shares as compensation to Robin Dow, CEO, and Garry Smith, P. Geo. These shares were issued at a deemed price of $0.05 per share. The issuance of these compensation shares is considered a related-party transaction and is subject to a hold period.
Nevada Organic Phosphate Inc. is a junior exploration company focused on a sedimentary rock phosphate property in NE Nevada. The Company aims to become a certified organic rock phosphate producer with substantial potential in North America.
This news release may contain forward-looking statements and information. Readers are advised to not place undue reliance on these statements, as they are based on assumptions that may prove inaccurate and are subject to risks and uncertainties. The Company undertakes no obligation to update or revise these statements unless required by applicable securities laws.
Please note that this news release is not intended for distribution to U.S. news wire services or dissemination in the United States. To view the source version of this press release, please visit the provided link.
