Investment Opportunity: Nevada Organic Phosphate Inc.
Nevada Organic Phosphate Inc. (NOP) is a junior exploration company with a sedimentary rock phosphate property known as the Murdock Property, located in NE Nevada. The property hosts a flat-lying sedimentary bed with known phosphate mineralization. With the rising demand for organic and sustainable agriculture practices, the need for organic fertilizers, including those derived from rock phosphate, is increasing. Organic rock phosphate is not only a source of phosphorus but also contributes to soil health.
The company aims to be a leading certified organic rock phosphate producer with significant potential in North America. The Murdock Property’s strategic location, adjacent to a main highway and rail head to California, enhances its accessibility and logistical advantages.
Third Tranche Details
The third tranche of funding is expected to advance the Murdock Property and support general working capital needs. A fee of $500 was paid, and 10,000 Finder’s Warrants were issued to certain finders. Each Finder’s Warrant can be exercised for one share at $0.10 within a sixty-month period. All securities issued in this tranche are subject to a statutory hold period expiring four months and one day after issuance, pending regulatory and Canadian Securities Exchange (CSE) approval.
So far, a total of $254,000 has been raised in the company’s ongoing non-brokered private placement, which will remain open beyond the BLM public commentary deadline on August 4th, 2024. Securities issued in this tranche are not registered under the United States Securities Act of 1933 and cannot be sold in the US without registration or an exemption.
Shares for Debt Settlement
In addition to the funding tranche, Nevada Organic Phosphate Inc. has agreed to issue 105,000 shares at $0.05 per share to settle a debt of $5,250 with a creditor. The Debt Settlement is in full and final payment for unpaid fees owed to the creditor for services rendered. These shares are also subject to a statutory hold period.
This news release may contain forward-looking statements. Readers are advised not to rely solely on these statements, as they are subject to risks and uncertainties. The company does not guarantee the accuracy of these statements and may update them as necessary.