Nevada Organic Phosphate Provides Corporate Update and Announces Financing

Nevada Organic Phosphate Provides Corporate Update and Announces Financing

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.

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.

Nevada Organic Phosphate Inc.

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

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Nevada Organic Phosphate (CSE:NOP)

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