On September 27, 2024, Nevada Organic Phosphate Inc., a company based in Vancouver, British Columbia, engaged in exploration activities in Nevada for organic, sedimentary raw rock phosphate, announced the successful closing of the fifth tranche of its non-brokered private placement. This tranche raised gross proceeds of $45,000 through the issuance of 900,000 units at a price of $0.05 per unit. Each unit consists of one common share and one share purchase warrant.
The funds raised from this tranche will be utilized for advancing the Company’s Murdock Property and for general working capital purposes. No fees were paid in connection with the closing of this tranche. All securities issued are subject to a statutory hold period, as per National Instrument 45-102. Regulatory approval and approval from the Canadian Securities Exchange (CSE) are pending for this offering.
Nevada Organic Phosphate Inc. is a junior exploration company focusing on a sedimentary rock phosphate property in NE Nevada. The Company aims to become one of the leading certified organic rock phosphate producers in North America, catering to the growing demand for organic fertilizers. The property’s location adjacent to a main highway and rail head to California adds strategic value to the Company’s operations.
This news release contains forward-looking statements and information, which are subject to risks and uncertainties. Readers are advised not to place undue reliance on such statements. The Company does not undertake any obligation to update or revise forward-looking statements unless required by applicable securities laws.
For the original source of this press release, please visit the following link: https://www.newsfilecorp.com/release/224794/Nevada-Organic-Phosphate-Closes-Fifth-Tranche-of-Unit-Offering
