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Nevada Organic Phosphate Inc. (CSE: NOP) ("NOP" or the "Company), a B.C. based company engaged in the exploration, in Nevada, for organic, sedimentary raw rock phosphate, is pleased to announce it intends to complete a non-brokered private placement (the "Offering") of up to 5,000,000 units ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of up to $250,000.
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 24 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 a finder's fee 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 Company intends to use the net proceeds of the Offering for advancement of its Murdock Property and for general working capital.
NOP is a junior exploration company with an Organic, sedimentary raw rock phosphate bed, 8 ¼ km long, 5m x 5m, in NE Nevada (the "Murdock Property"). The Issuer aims to be one of the only certified pure phosphate rock producers in the world as global supply dwindles and becomes more unreliable. Believed to be one of the only organic rock phosphate projects with large scale potential in North America, the Murdock Property is situated close to the main highway to Montello/Elko 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/184306
