Nevada Organic Phosphate Inc. (CSE: NOP) (OTCQB: NOPFF) increased its non-brokered private placement offering to $4.75 million from a previously announced amount due to investor interest and oversubscriptions, according to a company statement.

The Vancouver-based phosphate exploration company will issue up to 26.4 million units at $0.18 per unit. Each unit consists of one common share and one-half of a share purchase warrant. The warrants allow holders to purchase additional shares at $0.30 each for 36 months following issuance.

Nevada Organic Phosphate plans to close the offering on May 22, 2026, pending receipt of subscription agreements and funds. The company said it is finalizing commitments already received.

Proceeds will fund a phase two drill program at the company's Murdock Property in northeast Nevada and provide general working capital. The property contains what the company describes as a 6.6-kilometer organic sedimentary phosphate bed, with additional applications extending potential strike length to over 30 kilometers.

Securities issued in the offering are subject to a four-month and one-day statutory hold period. The offering requires regulatory approval and approval from the Canadian Securities Exchange.

The company may pay finder's fees on a portion of the gross proceeds. Nevada Organic Phosphate operates as a junior exploration company focused on organic sedimentary raw rock phosphate deposits.