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Nevada Organic Phosphate Closes $1,302,000 Tranche of Unit Offering
Vancouver, British Columbia--(Newsfile Corp. - September 26, 2025) - Nevada Organic Phosphate Inc. (CSE: NOP) ("NOP" or the "Company"), a B.C. based leader in organic sedimentary phosphate exploration, is pleased to announce that, further to its news releases dated September 19, 2025, and September 23, 2025, it has closed the first tranche of its previously announced non-brokered private placement (the "Offering") for gross aggregate proceeds of $1,302,000 (the "First Tranche") through the...
About this update from Nevada Organic Phosphate Inc
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - September 26, 2025) - Nevada Organic Phosphate Inc. (CSE: NOP) ("NOP" or the "Company"), a B.C. based leader in organic sedimentary phosphate exploration, is pleased to announce that, further to its news releases dated September 19, 2025, and September 23, 2025, it has closed the first tranche of its previously announced non-brokered private placement (the "Offering") for gross aggregate proceeds of $1,302,000 (the "First Tranche") through the issuance of 26,040,000 units of the Company (each, a "Unit") at a price of $0.05 per Unit.","length":645,"tagName":"p"},{"type":"text","content":"Each Unit consists of one common share in the capital of the Company (each, a "Share") and one-half of one Share purchase warrant (each whole warrant, 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 "Date of Issue").","length":431,"tagName":"p"},{"type":"text","content":"The aggregate proceeds of the Offering are anticipated to be used for a phase one drill program at the Company's Murdock Property and for general working capital. The drill program is anticipated to begin in early October and be completed by October 31st. Fees of $91,250 were paid and 1,825,000 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-half of one finder's Share purchase warrant (each, a "Finder's Warrant"), with each whole 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 Finder's Warrant Share for a period of sixty months following the date of issuance.","length":829,"tagName":"p"},{"type":"text","content":"Each Warrant and Finder's Warrant is subject to an acceleration provision providing that, if the volume weighted average price for the Company's common shares on the Canadian Securities Exchange (the "CSE", or such other exchange on which the common shares may be traded at such ...