Business
Nevada Organic Phosphate Waives Warrant Acceleration Provision and Provides Drilling Update on 2026 Exploration Program at Murdock Mountain
Vancouver, British Columbia--(Newsfile Corp. - May 27, 2026) - Nevada Organic Phosphate Inc. (CSE: NOP) (OTCQB: NOPFF) ("NOP" or the "Company"), a B.C. based leader in organic sedimentary phosphate exploration, is pleased to announce that, following the successful tranche one closing of its current $5.5M upsized and oversubscribed private placement, the Company has waived the forced warrant acceleration provision (the "Acceleration Provision") with respect to 23,608,438 outstanding warrants...
About this update from Nevada Organic Phosphate Inc
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - May 27, 2026) - Nevada Organic Phosphate Inc. (CSE: NOP) (OTCQB: NOPFF) ("NOP" or the "Company"), a B.C. based leader in organic sedimentary phosphate exploration, is pleased to announce that, following the successful tranche one closing of its current $5.5M upsized and oversubscribed private placement, the Company has waived the forced warrant acceleration provision (the "Acceleration Provision") with respect to 23,608,438 outstanding warrants issued pursuant to the Company's non-brokered private placement (the "Private Placement") that closed on September 26, 2025, and October 3, 2025 (the "Warrants").","length":722,"tagName":"p"},{"type":"text","content":"The Company will not provide Warrant holders with an acceleration notice and will not exercise its right to accelerate the expiry date of the Warrants pursuant to the Acceleration Provision, notwithstanding that the volume weighted average trading price of the Company's common shares on the Canadian Securities Exchange may equal or exceed $0.25 per share for 10 consecutive trading days (the "Acceleration Trigger"). Holders of the Warrants will retain the full benefit of their original Warrant terms and will have until the respective expiry dates of each tranche of the Private Placement to exercise their Warrants at the exercise price.","length":656,"tagName":"p"},{"type":"text","content":"Each Warrant issued in connection with the Private Placement entitles the holder to acquire one (1) common share of the Company at an exercise price of $0.10 per share. The Acceleration Provision had permitted the Company, at its discretion, to accelerate the expiry date of the Warrants to a date thirty (30) days following notice to holders upon the Acceleration Trigger being met.","length":383,"tagName":"p"},{"type":"text","content":"The Board of Directors has determined that waiving the Acceleration Provision is in the best interests of the Company and its shareholders.","length":139,"tagName":"p"},{"type":"text","content":"The Company also announces that drilling operations are temporarily paused as the drill contractor observes mandatory crew rest coinciding with the Memorial Day long weekend. The pause is part of standard safety and workforce management requireme...