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Nevada Organic Phosphate Closes the Final Tranche of a Private Placement That Raised of $5.75 Million

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Nevada Organic Phosphate (NOP.CN) closed the second and final tranche of a non-brokered private placement that raised of $705,734, bringing total proceed from the offer to $5.75 million.

The company placed 3.9-million units in the tranche, with each priced at at $0.18 each and made up of a share and one half of a three-year warrant to buy a share for $0.30.

Proceeds are expected to be used for a phase two drill program at its Murdock Mountain Property and for general working capital needs.

Shares of the company were last seen up $0.01 to $0.235 on the Canadian Securities Exchange.

Price: $0.24, Change: $+0.01, Percent Change: +4.44%

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