Nevada Organic Phosphate Increases Unit Offering and Closes First Tranche

Vancouver, British Columbia–(Newsfile Corp. – May 22, 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, further to its news releases dated May 13, 2026; and May 15, 2026; it has closed the first tranche of its previously announced non-brokered private placement (the “Offering“) for gross aggregate proceeds of $5,044,747 (the “First Tranche“) through the issuance of 28,026,370 units of the Company (each, a “Unit“) at a price of $0.18 per Unit.

The Company is pleased to note that the Offering attracted 116 individual subscriptions, reflecting significant breadth of investor participation and strong conviction in the Company’s ongoing drill program and the potential of its Murdock Property. The Company also announces that due to high investor interest it has increased the Offering for gross aggregate proceeds of up to $5,500,000 to accommodate oversubscriptions and intends to close the second and final tranche next week.

Each Unit consists of one common share in the capital of the Company (each, a “Share“) and one-half of one Share purchase warrant (each whole warrant, a “Warrant“), with each Warrant entitling the holder thereof to purchase one additional Share (each, a “Warrant Share“) at a price of $0.30 per Warrant Share for a period of thirty-six months following the date of issuance.

Fees of $327,512 were paid and 1,819,513 finder’s warrants were issued (the “Finder’s Warrants“) to certain finders in connection with the First Tranche. Each Finder’s Warrant entitles the holder thereof to purchase one additional Share (each, a “Finder’s Warrant Share“) at a price of $0.30 per Finder’s Warrant Share for a period of thirty-six months following the date of issuance. The aggregate proceeds of the First Tranche are anticipated to be used for a phase two drill program at the Company’s Murdock Mountain Property and for general working capital.

All securities issued in connection with the First Tranche are subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45‐102 – Resale of Securities. The Offering remains subject to regulatory approval and the approval of the Canadian Securities Exchange (“CSE“).

None of the securities sold in connection with the Second Tranche have been and will not be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Nevada Organic Phosphate Inc. (CSE: NOP) (OTCQB: NOPFF)

NOP is a junior exploration company with an organic sedimentary raw rock phosphate bed, 6.6 kilometres long, in northeast Nevada. Additional applications extend the potential strike of rock phosphate to over 30 kilometres. This is believed to be the only known large-scale organic sedimentary phosphate project in North America. It is situated close to the main highway to Montello/Elko, Nevada, and near the rail head to California or the East Coast.

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.

Not for distribution to U.S. news wire services or dissemination in the United States.

Source: https://www.newsfilecorp.com/release/298629/Nevada-Organic-Phosphate-Increases-Unit-Offering-and-Closes-First-Tranche