Nevada Organic Phosphate Inc. (CSE: NOP) ("NOP" or the "Company) a B.C. based company engaged, in Nevada, in exploration for organic, sedimentary raw rock phosphate, is pleased to report that it has been advised by Westland, its Environmental Consultant, that the Administrative Draft of the Murdock Mountain EA was submitted to the BLM in Reno on March 8. It was then sent to the BLM team in WellsElko on March 12. Upon the request of the BLM field manager, the review period for the EA will go until April 5. Hopefully, the draft will be published for public comment by mid-April, or shortly thereafter. The public consultation should take about 30 days. The BLM can then elect to issue to NOP its Exploration Permit which will let NOP start its drill programme.
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International Zeolite and CoTec Holdings Announce Strategic Alliance
CoTec Holdings Making Anchor Investment to Accelerate Commercialization of International Zeolite's Revolutionary Proprietary NEREA(R) Fertilizer Technology
International Zeolite Corp. (TSXV: IZ) (OTCQB: IZCFF) (FSE: ZEON) ("IZ") and CoTec Holdings Corp. (TSXV: CTH) ("CoTec") are pleased to announce that CoTec has agreed to make a $2 million strategic investment in IZ to support its go-to-market activities in the agricultural and green tech segments.
CoTec and IZ share similar visions and objectives and are focused on creating a portfolio of green disruptive technologies that are high-margin, eco-friendly and deliver reductions in carbon emissions. The investment from CoTec is expected to fast track IZ's ability to move rapidly to full commercialization, marketing and sales capabilities for its disruptive agricultural products and solutions. The funding will support the construction of IZ's first NEREA® production facility to be in Ontario, Canada with an expected completion date of March 2023. In addition to its financial investment, CoTec will support IZ through the involvement of its management team, who collectively have extensive global reach and expertise in green technologies.
"We are excited to partner with IZ and support their efforts to commercialize its proprietary NEREA® technology," commented Mr. Julian Treger, CEO of CoTec. "Fertilizer is a major contributor to global CO2 emissions and NEREA® is exactly the type of breakthrough the agricultural industry needs to reduce its carbon footprint - independent studies have shown that it could improve the efficacy of fertilizer by a factor of up to eight and reduce plant and crop growth cycles by as much as twenty-five per cent. Additionally, at a time of conflict in Ukraine, NEREA® could significantly reduce the Western world's fertilizer needs and its exposure to higher risk jurisdictions for much needed supply. Our investment will give us a substantial interest in IZ, and we intend to work closely with the IZ management team to help them aggressively roll out this exciting technology."
"We are very pleased to partner with CoTec and are excited to commence the commercialization of NEREA® products" said Ray Paquette, IZ CEO. "Once our products are established in Canada, we will roll it out to the other jurisdictions where we have secured exclusivity."
NEREA®
NEREA® is IZ's proprietary on demand grow system designed for all agricultural sectors: nurseries, greenhouses, horticultural growers, and outdoor growers. It imbeds into zeolite particles all the macronutrients and micronutrients needed by plants to grow healthy and effectively. It is a demand driven system that allows plants to receive nutrients based on their need and at the time the plant needs it. Independent trials and validation studies show that NEREA® decreases crop time resulting in additional crops for growers thus increasing grower ROI, reduces the overall requirements for fertilizer by up to 80% resulting in much lower input costs for growers, and reduces greenhouse gases significantly through the reduction of fertilizer consumption. IZ has secured the rights to manufacture, market and sell NEREA® in Canada and the United States for a period of 20 years from approval of the NEREA® intellectual property in the relevant jurisdictions and global exclusivity arrangements are pending.
Transaction Terms
CoTec has signed a subscription agreement to purchase 13,333,334 units ("Units") from IZ on a private placement basis at a price of $0.15 per unit for an aggregate subscription of $2,000,0000 (the "Private Placement"). King Chapel International ("Kings Chapel"), a company associated with Mr. Treger, is also a party to the agreement and will subscribe for 2,000,000 Units, providing IZ with aggregate subscription proceeds of $2,300,000. Each Unit will consist of one common share of the company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will be exercisable for one Common Share at a price of $0.18 for 12 months from the closing date, which if exercised provides an additional $2,760,000 in operating capital for IZ.
$170,000 of the net proceeds of the Private Placement will be used to repay shareholder loans owing to Ray Paquette, the CEO of the company, and his affiliates, and the balance will be used to fund the commercialization of NEREA products for manufacturing, marketing and sales in Canada and for working capital purposes.
Pursuant to the subscription agreement, CoTec and Kings Chapel have each agreed to provide up to $300,000 in bridge loan funding to IZ (together the "Bridge Loan"). CoTec agreed to advance its funding concurrently with the execution of the Subscription Agreement and Kings Chapel will advance its Bridge Loan upon the satisfactory completion of its due diligence review of IZ. The Bridge Loan bears interest at 7% per annum and is repayable on the earlier of November 21, 2024, closing of the Private Placement and a change of control of IZ. The Bridge Loan is secured by a first ranking charge in favour of CoTec over all of IZ's assets. Amounts outstanding under the Bridge Loan will be credited towards the amount payable by CoTec and Kings Chapel upon completion of the Private Placement.
Upon completion of the Private Placement:
- CoTec and IZ will enter into an investor rights agreement pursuant to which CoTec will have customary pre-emptive rights to participate in future equity issuances by IZ and the right to appoint two members of IZ's board of directors;
- CoTec and Ray Paquette, the CEO and a director of IZ, will enter into a debenture call agreement pursuant to which CoTec will have the right to purchase all or any part of the Convertible Debentures (as defined below) at a price equal to 100% of the outstanding principal amount under the purchased Convertible Debentures at any time or from time to time until July 31, 2023; and
- CoTec will own 23.6% of the issued and outstanding Common Shares and 38.1% of the outstanding Common Shares on a partially-diluted basis (assuming the exercise of all of its Warrants).
As required by the policies of the TSX Venture Exchange (the "TSXV"), IZ will seek disinterested shareholder approval at its annual and special shareholder meeting to be held on January 4, 2023 for a resolution to approve CoTec or Kings Chapel becoming a "control person" of IZ. The directors and officers of IZ, who currently own 20.6% of the outstanding Common Shares, have agreed to vote all of their Common Shares in favour of this resolution.
Completion of the Private Placement is subject to a number of conditions, including receipt of IZ shareholder approval and all necessary TSXV approvals, CoTec completing its due diligence investigations of IZ and being satisfied with the results of such investigations in its sole discretion, receipt of all necessary regulatory approvals for the sale of NEREA® in the United States, the absence of any material adverse effect in respect of IZ and other customary conditions.
Debt Exchange
Ray Paquette, the CEO and a director of IZ, and an affiliated company currently hold two promissory notes of IZ in the original principal amounts of $243,000 and $793,000 respectively (the "Promissory Notes"). As of November 14, 2022, the aggregate amounts owing under the Promissory Notes (including accrued and unpaid interest) was $266,061.70 and $881,261.54, respectively. In addition, IZ currently owes an affiliated company of Mr. Paquette $108,000 in unpaid management fees. Mr. Paquette and IZ have entered into a debt exchange agreement pursuant to which IZ's obligations under the Promissory Notes and the unpaid management fees will be satisfied in exchange for the issuance to Mr. Paquette and his affiliated company of convertible debentures in the aggregate principal amount of $1,255,323.23 (the "Convertible Debentures").
Each Convertible Debenture will bear interest at the prime rate of interest published by Royal Bank of Canada + 2%. The Convertible Debenture held by Mr. Paquette will be payable in five equal annual instalments starting on June 30, 2023, and ending on June 30, 2027. The Convertible Debenture held by Mr. Paquette's affiliated company will be payable in two equal annual instalments on June 30, 2023 and June 30, 2024. The principal amount outstanding under the Convertible Debentures will also be convertible, at any time and from time to time, at the option of the holder, into Common Shares based on a conversion price of $0.15 per share, subject to customary adjustments.
The debt exchange transaction and the issuance of the Convertible Debentures is subject to TSXV approval. The debt exchange transaction is a related-party transaction as defined under Multilateral Instrument 61-101 ("MI 61-101"). Because IZ's shares trade only on the TSXV, the issuance of the Convertible Debentures is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(a) of MI 61-101.
All securities issued under the Private Placement and the debt exchange transaction are subject to a hold period of four months plus a day, in accordance with applicable securities laws and the policies of the TSXV.
On Behalf of the Board of International Zeolite Corp.
"Ray Paquette"
CEO
604.684.3301
On Behalf of the Board of CoTec Holdings Corp.
"Braam Jonker"
CFO
604.992.5600
About International Zeolite
International Zeolite's mission is to produce a line of high-value top-tier performance natural zeolite products and solutions. We believe that real change comes from the ground up. Our focused aim is to utilize the naturally occurring zeolite mineral to innovate commercial agriculture, industry and consumer practices that outperform their competition, and are better for the environment and world populations. Our purpose-driven zeolite solutions represent a new era of earth conscious environmental science that will relentlessly seek to transform agriculture, industry, and households to safer, sustainable, superior means of operation.
International Zeolite is a publicly traded issuer listed on the TSX Venture Exchange and trades under the symbol IZ.V
For further information, please visit www.internationalzeolite.com or contact Ray Paquette - (604) 684.3301
For Investor Inquiries:
info@internationalzeolite.com
For Sales and Commercial Inquiries:
sales@earthinnovations.ca
About CoTec
CoTec is an ESG-focused company investing in innovative technologies that have the potential to fundamentally change the way metals and minerals can be extracted and processed for the purpose of applying those technologies to undervalued operating assets and recycling opportunities, as the Company seeks to transition into a mid-tier mineral resource producer. The Company is committed to supporting the transition to a lower carbon future for the extraction industry, a sector on the cusp of a green revolution as it embraces technology and innovation.
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange and trades under the symbol CTH.V
For further information, please visit www.cotec.ca or contact Braam Jonker - (604) 992-5600.
Please join CoTec CEO, Julian Treger, and IZ CEO, Mark Pearlman on Friday, November 25, 2022 at 8:00AM PST for further information on this exciting investment opportunity. Click this link https://my.6ix.com/aIx5t8G4 to register for the event.
Forward-Looking Information
Statements in this press release regarding IZ, CoTec, their respective businesses, the Private Placement and related transactions which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including statements relating to IZ's proposed commercialization of its NEREA®, the benefits and potential impact of NEREA®, the construction of IZ's proposed NEREA® production facility and completion and the anticipated benefits of the Private Placement. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding risks and uncertainties facing IZ please refer to its public disclosure documents, copies of which may be found under IZ's SEDAR profile at www.sedar.com. For further details regarding risks and uncertainties facing CoTec please refer to "Risk Factors" in CoTec's filing statement dated April 6, 2022, as well as its other public disclosure documents, copies of which may be found under CoTec's SEDAR profile at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
WOA’s Lupin Protein Included in Two New Recently Launched Consumer Products
Wide Open Agriculture Limited (ASX: WOA, "Wide Open Agriculture" or the "Company") is pleased to announce the successful integration of Buntine Protein® into a 3rd party consumer product which is now available in the Australian market. This represents the first 3rd party commercial application of Buntine Protein®.
HIGHLIGHTS
- Wide Open Agriculture successfully integrates lupin protein into two recently launched consumer products; one in the Australian baked goods market and the other in the U.S.A plant- based dairy market.
- The newly launched products include CHONK cookies in Western Australia (containing Buntine Protein®) and Superitalia coffee creamer (containing the former Prolupin isolate LP90) available in the U.S.A on Amazon, demonstrating the versatility and consumer reach of lupin protein as an ingredient.
CHONK vegan cookies uses WOA's Buntine Protein® to create a gluten-free, dairy-free, egg-free and soy-free treat that is both sumptuous and sensitive to dietary needs. These cookies are available for sale in Western Australia1 and represent a new venture into the vegan snack market. CHONK cookies is a brand from West Australian based Noshing, a leading vegan food manufacturer in Western Australia.
The second product, from Italian company Superitalia, is a premium coffee alternative that uses the former Prolupin isolate LP90 to make an Instant Superfood Cappuccino. The full range is available on Amazon in the US2. This product provides unique attributes available to customers across the United States in the US$13bn3 coffee substitutes market.
"We are immensely proud to witness the debut of Buntine Protein® in the consumer market, a great result from our team's dedication and the innovative spirit of Wide Open Agriculture," said WOA CEO Matthew Skinner. "These are not just product launches; they are a great leap forward in our mission to deliver sustainable and health-focused food solutions to the global market. We are excited to see how these products will resonate with consumers and pave the way for further innovations."
The launch of these products demonstrates the functional and commercial viability of lupin protein and is consistent with the Company's proposed timeline released in its Investor Presentation of 13 March 2024. The initial volumes required for these products are not material to the Company's overall revenue, however validate the Company's commercial strategy and the functional properties of the Company's lupin protein ingredients.
Click here for the full ASX Release
This article includes content from Wide Open Agriculture, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Nevada Organic Phosphate Provides Corporate Update and Announces Financing
Robin Dow, CEO, states: "NOP, and its predecessors, have had the Murdock Mountain property since 2011. It is now wonderful to see that NOP could be drilling by the end of May. This is what the Exploration Team dreams of…finally!"
The Company also announces it intends to complete a non-brokered private placement (the "Offering") of up to 3,000,000 units ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of up to $150,000 to fund the public comment and BLM / Westland ancillary costs till the exploration permit is released.
Each Unit will consist of one common share in capital of the corporation (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.10 per Common Share for a period of 60 months from the date of issuance.
The securities offered pursuant to the Offering will be subject to a statutory hold period of four months and a day from the date of issuance. The Company may pay finder's fees on a portion of the gross proceeds of the Offering. The Offering remains subject to regulatory approval and the approval of the Canadian Securities Exchange ("CSE").
The net proceeds of the Offering will be used for advancement of the Company's Murdock Property and for general working capital.
NOP is a junior exploration company with a sedimentary rock phosphate property (the "Murdock Property") hosting a nearly flat lying sedimentary bed of known phosphate mineralization in NE Nevada.
The increasing interest in organic and sustainable agriculture practices has contributed to the demand for organic fertilizers, including those derived from rock phosphate. Organic rock phosphate is often marketed as a fertilizer that not only provides phosphorus but also contributes to overall soil health.
The Issuer aims to be one of the only certified organic rock phosphate producers with large scale potential in North America. The Murdock Property is situated adjacent to a main highway and the rail head to California.
For More Information
Robin Dow, CEO
T: 604.355.9986
E: robin@dowgroup.ca
Neither the Canadian Securities Exchange nor its regulations services providers have reviewed or accept responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements and information ("FLSI") within the meaning of applicable securities laws. FLSI may include expectations, anticipations, beliefs, opinions, plans, intentions, estimates, forecasts, projections, guidance or other similar statements and information that are not historical facts. All statements which are not historical statements are considered FLSI. All FLSI is based on assumptions, which may prove inaccurate, and subject to certain risks and uncertainties, including without limitation those risks and uncertainties identified in the Company's public securities filings, which may cause actual events or results to differ materially from those indicated or implied in FLSI. Accordingly, readers should not place undue reliance or value on FLSI. Although the Company believes that the expectations reflected in any FLSI in this news release are reasonable at the present time, it can give no assurance that such FLSI will prove to be correct. Any FLSI in this news release is made as of the date hereof and the Company undertakes no obligations to publicly update or revise any FLSI, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. Any FLSI in this news release is expressly qualified in its entirety by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202072
News Provided by Newsfile via QuoteMedia
Nevada Organic Phosphate Announces Consulting Agreements
Nevada Organic Phosphate Inc. (CSE: NOP) ("NOP" or the "Company), a B.C. based company engaged in the exploration for organic sedimentary raw rock phosphate in Nevada, is pleased to announce it has entered into a consultant agreement (the "Consulting Agreement") with an independent consultant Integrity Media Inc. (the "Consultant") with respect to the Consultant agreeing to serve as the Company's Manager of Government Relations for a term of (1) one-year, led by its president, Kurt Divich. In consideration for the appointment and services over the term of the Consulting Agreement, the Company has agreed issue 800,000 common shares (each, a "Share") to the Consultant at a deemed price of $0.05 per Share.
The Company also announces it has entered into a consultant agreement (the "Agreement") with an independent consultant (the "Independent Consultant") pursuant to which the Independent Consultant has agreed to provide the Company general corporate development and business marketing services for a (3) three-month term. As consideration for services over the term of the Agreement the Company has agreed issue 260,000 common shares (each, a "Share") to the Independent Consultant at a deemed price of $0.05 per Share.
Accordingly, all the Shares are to be issued pursuant to the prospectus exemption provided under Section 2.24 of National Instrument 45-106 - Prospectus Exemptions and are subject to a hold period of four months and one day.
NOP is a junior exploration company with a sedimentary rock phosphate property (the "Murdock Property") hosting a nearly flat lying sedimentary bed of known phosphate mineralization in NE Nevada.
The increasing interest in organic and sustainable agriculture practices has contributed to the demand for organic fertilizers, including those derived from rock phosphate. Organic rock phosphate is often marketed as a fertilizer that not only provides phosphorus but also contributes to overall soil health.
The Issuer aims to be one of the only certified organic rock phosphate producers with large scale potential in North America. The Murdock Property is situated adjacent to a main highway and the rail head to California.
For More Information
Robin Dow, CEO
T: 604.355.9986
E: robin@dowgroup.ca
Neither the Canadian Securities Exchange nor its regulations services providers have reviewed or accept responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements and information ("FLSI") within the meaning of applicable securities laws. FLSI may include expectations, anticipations, beliefs, opinions, plans, intentions, estimates, forecasts, projections, guidance or other similar statements and information that are not historical facts. All statements which are not historical statements are considered FLSI. Forward- looking statements in this press release include, but are not limited to, statements regarding the proposed Offering and the anticipated use of proceeds of the Offering. All FLSI is based on assumptions, which may prove inaccurate, and subject to certain risks and uncertainties, including without limitation those risks and uncertainties identified in the Company's public securities filings, which may cause actual events or results to differ materially from those indicated or implied in FLSI. Accordingly, readers should not place undue reliance or value on FLSI. Although the Company believes that the expectations reflected in any FLSI in this news release are reasonable at the present time, it can give no assurance that such FLSI will prove to be correct. Any FLSI in this news release is made as of the date hereof and the Company undertakes no obligations to publicly update or revise any FLSI, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. Any FLSI in this news release is expressly qualified in its entirety by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197696
News Provided by Newsfile via QuoteMedia
Raw Rock Phosphate Deposit Unique in North America, Nevada Organic CEO Says
Raw rock phosphate is an “easy story to understand” and provides a unique and significant value proposition for Nevada Organic Phosphate (CSE:NOP), according to the company’s CEO, Robin Dow.
“There's no other raw rock organic phosphate produced in North America. And we're not sure if there's any in the world … So it's unique and it's needed. And we're going to create a market for it,” said Dow.
Nevada Organic Phosphate is leveraging its Murdock Mountain phosphate deposit in Nevada to produce direct-application raw rock phosphate.
“We are the only potential raw rock phosphate deposit in North America. And it's really simple. With other phosphate, you have to put it through a beneficiation process; (it's) expensive to produce the acid, then you have to mix it with the ammonium and then you have to granulate it, capsulate it and send it out. Ours, (we) blow it up, dig it up, grind it up, bag it up and ship it out,” Dow said.
The company recently submitted three new applications to add 6,011 acres of potential phosphate resource to its existing application, which covers 1,813 acres at its Murdock property.
Watch the full interview with Nevada Organic Phosphate CEO and Director Robin Dow above.
Disclaimer: This interview is sponsored by Nevada Organic Phosphate (CSE:NOP). This interview provides information which was sourced by the Investing News Network (INN) and approved by Nevada Organic Phosphate in order to help investors learn more about the company. Nevada Organic Phosphate is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Nevada Organic Phosphateand seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Nevada Organic Phosphate
Overview
The United Nations estimates that global food production needs to increase 70 percent by 2050 if we are to meet the growing demand. To boost crop yields, nutrient management practices and fertilizer technologies must be used since fertilizer products are responsible for more than 50 percent of crop yields.
Nevada Organic Phosphate (CSE:NOP) embodies its straightforward business strategy, “Blow it up. Dig it up. Grind it up. Bag it up. And Ship it out by rail.” The company uses a direct-ship, pit-run system that brings truly organic, direct-application phosphorus to market. The company intends to produce certified raw rock organic phosphate eligible for organic farming in the United States, specifically targeting industrial farms and the US$59.28 billion organic food market.The organic food market in the United States is growing because of factors such as increasing health awareness among consumers and increasing environmental concerns due to the heavy use of pesticides, chemical fertilizers, and other chemicals in conventional farming. As a reagent, raw rock organic phosphate from Murdock Mountain is perfectly suited to regenerate soil to serve the fast-growing organic food market.
The company’s Murdock Mountain Phosphate Project is located in Nevada, now covering more than 7,800 acres, which consist of an initial 1,813 acres and an additional 6,011 acres of potential phosphate resource. The property is a nearly flat lying sedimentary rock phosphate exploration target. The initial 1,813-acre application target is believed to host a potential 10 to 46 million tonnes ranging in grade from 3 to 15 percent phosphorus pentoxide (P2O5) based on an average thickness of 3.5 meters and a specific gravity of 2.6. These ranges are based on previous estimates,and have not been verified by NOP according to current 43-101 standards of disclosure.
Based on this geological model and historic ranges, the additional 6,011 acres from a recently accepted permit application, potentially add as much as 218 million tonnes of P2O5 to the Murdock property.Raw phosphate ore suitable for direct application is exceedingly rare, with only 5 percent of the world’s phosphate ore having the necessary purity. The majority of raw phosphate must be processed to remove impurities that harm plant growth, such as uranium, thorium, cadmium and heavy metals. The phosphate from Murdock Mountain can be directly applied to crops without any processing due to the uncommon type of occurrence hosted by clean oolitic limestones.
An experienced management team leads the company towards producing its unique product. CEO and director Robin Dow has over 35 years of experience financing public resources companies and has raised over $150 million. Additional directors and consultants bring varied backgrounds to the project that builds confidence in the company.
Company Highlights
- Nevada Organic Phosphate has a unique asset containing raw rock phosphate suitable for direct application, raw rock P205 dust in organic farming.
- Once in production, the company will produce the only large-scale, certified organic phosphate in the United States.
- Raw organic phosphate from Murdock Mountain is perfectly suited to serve the fast-growing US$59.28 billion organic food market.
- The company’s project, Murdock Mountain, will produce phosphate that does not require costly processing before it is usable.
Key Project
Murdock Mountain Phosphate Project
The company’s phosphate project is located in Nevada, a politically safe and mining-friendly jurisdiction. Nevada Organic Phosphate is working with the United States Bureau of Land Management to complete an exploration permit to move toward production.Project Highlights:
- Encouraging Historical Data: The project has a historical non-43-101-compliant resource estimate of 8.7 to 18.4 million tonnes at 15 percent phosphate from 1984. The company is currently working to confirm and potentially extend the known deposit.
- An Organic Source of Raw Phosphate: Most of the world’s phosphate is a soluble chemical that must be regularly applied. The ore at Murdock Mountain is organic and non-soluble, allowing it to regenerate the soil for up to a decade.
- Suitable for Direct Application: Nevada Organic Phosphate’s end product is suitable for direct application in organic farming, an attribute less than 5 percent of the world’s phosphate ore possesses. Most phosphate ore must be processed to remove impurities that would otherwise harm plants. Murdock’s product has no harmful contaminants such as uranium and heavy metals
- New Applications for Phosphate Prospecting Permits: Three new permit applications for an additional 6,011 acres of potential phosphate resource have been added to the company’s existing application covering 1,813 acres. This expansion potentially adds as much as 218 million tonnes of P2O5 to the Murdock property.
Management Team
Robin Dow - CEO and Director
Robin Dow has 35 years of financing public resource companies, raising over $150 million since 1998. CEO NOP, Dabros Mining Corp, and Ore Chimney Gold. NOP is Dow’s 20th company since 1988.
Paul W. Pitman - Director
Paul Pitman is a field-hardened veteran with extensive experience in all areas of geological exploration for several metals and materials. He has over 55 years of experience as an exploration geologist. Since 1983 he acted as a geological consultant to over 70 clients; providing a full range of services (geological, corporate, and administrative); including being a former director, and officer (VP or president) of several junior resource companies. Pitman is semi-retired but directs his geological expertise as an advisor to several fertilizer companies.
Garry K. Smith - Director
Garry Smith has provided exploration management and services to mining companies for over 30 years and has served as president, vice-president of exploration, director, and consultant to numerous boards. Notable milestones were participating in the discovery of the Hemlo world-class gold mine, and co-founding the second junior to list on the TSE. Smith is a registered Professional Geoscientist of Ontario (PGO) and provides qualified person consulting on project acquisition, 43-101 technical reporting, resource estimation, general exploration contracting and reporting, computer-based 3D geological modelling and data compilation, and metal ion soil geochemistry.
Eric Szustak - Director
Eric Szustak is a chartered public accountant with more than 38 years of financial service, business development, marketing, accounting, and CFO experience. Szustak has worked at both small and large accounting firms advising mid-sized businesses. His background includes 14 years with three national brokerage firms Midland Walwyn, Merrill Lynch and BMO Nesbitt Burns in various positions, including private client wealth group, management and securities compliance. Szustak holds a BA Honors chartered accountant studies and economics from the University of Waterloo and received his chartered accountant designation in 1985. Szustak is the former president and now chairman of the board of Quinsam Capital Corporation. Quinsam is a public merchant bank based in Canada. The merchant banking business encompasses a range of activities including acquisitions, advisory services, lending activities and portfolio investments. His experience in the public markets includes being a director of various public companies.
Keith Li - Chief Financial Officer
Keith Li is an experienced chartered professional accountant (CPA, CA) with over 15 years of corporate accounting, finance and financial reporting experience. He specializes in providing management advisory services, accounting and regulatory compliance services to both public and private companies in several industries including junior mining, cannabis, health and wellness, and merchant banking. Li began his career in the public accounting sector as an auditor and has also held a senior-level position at Sears Canada and multiple reporting issuers. He also holds a Bachelor of Commerce from McGill University.
Marco Montecinos - Project Manager Murdock Mountain
Marco Montecinos has over 38 years of experience in mineral exploration and business development projects in the Americas and possesses considerable expertise and knowledge of the phosphate rich bed where NOP is engaged. He is president of Tigren, a Nevada-based exploration services company that has provided technical services to the mining industry for 28 years.
Nevada Organic Phosphate Announces Stock Option Grant
Nevada Organic Phosphate Inc. (CSE: NOP) ("NOP" or the "Company"), a B.C. based company engaged in the exploration for organic sedimentary raw rock phosphate in Nevada, is pleased to announce it has approved the issuance of 2,000,000 stock options to certain officers, directors, and consultants of the Company for the purchase of up to 2,000,000 common shares in the capital of the Company pursuant to the Company's Stock Option Plan. Each option vested immediately and is exercisable for a period of five (5) years at an exercise price of $0.075 per share.
NOP is a junior exploration company with a sedimentary rock phosphate property (the "Murdock Property") hosting a nearly flat lying sedimentary bed of known phosphate mineralization in NE Nevada.
The increasing interest in organic and sustainable agriculture practices has contributed to the demand for organic fertilizers, including those derived from rock phosphate. Organic rock phosphate is often marketed as a fertilizer that not only provides phosphorus but also contributes to overall soil health.
The Issuer aims to be one of the only certified organic rock phosphate producers with large scale potential in North America. The Murdock Property is situated adjacent to a main highway and the rail head to California.
For More Information
Robin Dow, CEO
T: 604.355.9986
E: robin@dowgroup.ca
Neither the Canadian Securities Exchange nor its regulations services providers have reviewed or accept responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements and information ("FLSI") within the meaning of applicable securities laws. FLSI may include expectations, anticipations, beliefs, opinions, plans, intentions, estimates, forecasts, projections, guidance or other similar statements and information that are not historical facts. All statements which are not historical statements are considered FLSI. Forward-looking statements in this press release include, but are not limited to, statements regarding the proposed Offering and the anticipated use of proceeds of the Offering. All FLSI is based on assumptions, which may prove inaccurate, and subject to certain risks and uncertainties, including without limitation those risks and uncertainties identified in the Company's public securities filings, which may cause actual events or results to differ materially from those indicated or implied in FLSI. Accordingly, readers should not place undue reliance or value on FLSI. Although the Company believes that the expectations reflected in any FLSI in this news release are reasonable at the present time, it can give no assurance that such FLSI will prove to be correct. Any FLSI in this news release is made as of the date hereof and the Company undertakes no obligations to publicly update or revise any FLSI, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. Any FLSI in this news release is expressly qualified in its entirety by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194814
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