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First Phosphate Corp
- CSE:PHOS
- FSE:KD0
- NASDAQ:PHOS
- OTCQX:FRSPF
First Phosphate Announces G7-Linked Investment and Offtake Agreements
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At a glance
- Company
- First Phosphate Corp
- Listings
- CSE:PHOS, FSE:KD0, NASDAQ:PHOS, OTCQX:FRSPF
- Announcement type
- Financing
- Published
- Source announcement
- firstphosphate.com
| Measure | Figure |
|---|---|
| Phosphate concentrate | 200,000 tonnes per annum |
| Phosphoric acid | 60,000 tonnes per annum |
Figures are quoted from this announcement and selected automatically.
FAQSIR Generated from this announcement View original release below for safe harbor and regulatory notices
Announcement Summary
First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) announced investment and offtake agreements plus LOIs under the Alliance.
- The agreements were announced at the 52nd G7 Summit in Évian, France, under the Critical Minerals Resilience and Production Alliance.
- EIFO signed an LOI on March 30, 2026, for up to CDN $275M in guarantees for the Bégin-Lamarche mine.
- SACE, CDP and SIMEST signed LOIs between May 26, 2026 and June 4, 2026, with MAIRE supporting Ballestra technology at Port Saguenay’s phosphoric acid (PA) plant.
- A definitive offtake agreement signed January 5, 2026 covers a minimum of 200,000 tonnes per annum of phosphate concentrate from the mine.
- A second definitive offtake agreement, signed December 16, 2024, covers a minimum of 60,000 tonnes per annum of phosphoric acid from Port Saguenay.
- The EIFO guarantee can go to one or more funding banks, with EIFO participation expected pro rata and pari passu with other senior lenders.
Ballestra is described as recently acquired by NEXTCHEM, subject to closing.
Investor FAQs
First Phosphate announced international investment and offtake agreements under the Critical Minerals Resilience and Production Alliance at the 52nd G7 Summit in Évian, France. It also announced letters of interest from export credit agencies, financial institutions and industrial partners.
First Phosphate received a letter of interest for up to CDN $275M in guarantees from the Export and Investment Fund of Denmark (EIFO) for development of the Bégin-Lamarche mine. The LOI was signed March 30, 2026; the source says EIFO participation can be expected to be pro rata and pari passu with other senior lenders.
First Phosphate received LOIs from Italy’s Export Credit Agency, SACE, Italy’s National Promotional Institution, Cassa Depositi e Prestiti, and SIMEST, alongside support from the Italian engineering group MAIRE. The LOIs relate to the Port Saguenay phosphoric acid plant and the deployment of Ballestra S.p.A. technology, and were signed between May 26, 2026 and June 4, 2026.
First Phosphate signed a definitive offtake agreement with an international partner for a minimum of 200,000 tonnes per annum of phosphate concentrate from the Bégin-Lamarche mine. The agreement was signed January 5, 2026.
First Phosphate signed a definitive offtake agreement with an international partner for a minimum of 60,000 tonnes per annum of phosphoric acid to be produced by the phosphoric acid plant at Port Saguenay. The agreement was signed December 16, 2024.
John Passalacqua, CEO of First Phosphate, said the offtake and investment agreements demonstrate the strategic importance assigned to establishing a secure, traceable and robust international supply chain for critical battery-grade phosphate material. He also stated that the company is developing phosphate material from Saguenay-Lac-Saint-Jean, Quebec into a downstream lithium iron phosphate battery supply chain for the G7 Alliance.
The Critical Minerals Resilience and Production Alliance was launched by Prime Minister Carney in June 2025 at the 51st G7 Leaders’ Summit in Kananaskis, Alberta. The source says it brings trusted countries together to diversify critical minerals supply, promote responsible development and reduce market concentration, while connecting governments, investors and companies to support financing and offtake agreements.
First Phosphate is a mineral exploration and development and clean technology company focused on building a vertically integrated mine-to-market supply chain for producing lithium iron phosphate batteries in North America. Its target markets include energy storage, data centers, robotics, mobility and national security.
First Phosphate’s flagship Bégin-Lamarche property is located in Saguenay–Lac-Saint-Jean, Québec, Canada. The company describes it as a North American igneous phosphate resource producing high-purity phosphate characterised by very low levels of impurities.
First Phosphate is listed as CSE: PHOS, OTCQX: FRSPF, OTCQX ADR: FPHOY and FSE: KD0. These are the listing venues and ticker symbols stated in the announcement.
The Port Saguenay project involves SACE, Cassa Depositi e Prestiti, SIMEST and MAIRE, with Ballestra S.p.A. technology planned for the phosphoric acid plant. The source describes Ballestra as an Italian engineering company active in licensing, plant design and engineering, and the supply of technologies and equipment for the chemical industry.
First Phosphate cautions that its forward-looking information is not a guarantee of future performance and that actual results or developments may differ materially. The company identifies risks including market prices, exploration and development outcomes, continued availability of capital and financing, permitting and approval delays, project cost and timetable changes, supply disruptions, commodity price expectations and relationships with municipalities, First Nations, partners and suppliers.
Source announcement
- Company
- First Phosphate Corp
- Title
- First Phosphate Announces Investment and Offtake Agreements under Critical Minerals Resilience and Production Alliance at G7 Summit
- Published
- Source site
- firstphosphate.com
Read the source announcement on firstphosphate.com
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