How much did First Phosphate raise in the Offering?

First Phosphate raised a total of $15,420,640 through the Offering. The Company stated that, together with this Offering and since June 2022, it has raised approximately $78 million through 11 management-led non-brokered private-placement financings and funds received from option and warrant exercise.

How many Hard Dollar Units did First Phosphate issue and at what price?

First Phosphate issued 1,432,750 Hard Dollar Units at a price of $2.00 per Hard Dollar Unit. The Company stated that this tranche generated gross proceeds of $2,865,500.

How many Flow-Through Shares did First Phosphate issue and at what price?

First Phosphate issued 6,277,570 Flow-Through Shares at a price of $2.00 per Flow-Through Share. The Company stated that this tranche generated gross proceeds of $12,555,140.

What fees and additional securities did First Phosphate issue in connection with the Offering?

First Phosphate paid $156,880 in cash finder’s fees, issued 322,920 compensation Common Shares at a deemed price of $2.00 per common share, and issued 401,360 Compensation Warrants. The warrants are exercisable at $2.50 per common share until December 31, 2026, subject to the Accelerated Expiry Date.

When can First Phosphate’s Compensation Warrants be exercised?

First Phosphate’s 401,360 Compensation Warrants are exercisable at a price of $2.50 per common share until December 31, 2026, subject to the Accelerated Expiry Date.

What restrictions apply to the securities issued by First Phosphate in the Offering?

All securities issued under First Phosphate’s Offering are subject to a four-month and one day statutory hold period in accordance with applicable securities laws.

Could First Phosphate close another tranche of the Offering?

First Phosphate said it may close another tranche of the Offering at its discretion, subject to the Policies of the Canadian Securities Exchange. The release also identifies completion of further tranches and regulatory approval, including approval from the Canadian Securities Exchange, as forward-looking information.

Did a First Phosphate director participate in the Offering?

Laurence W. Zeifman, Chairman of the Board of First Phosphate, purchased 50,000 Flow-Through Shares in connection with the Offering.

How does First Phosphate’s CEO explain the financing and the company’s priorities?

CEO John Passalacqua said that the entry of a major global mining explorer and developer into the igneous phosphate space, together with the onshoring of the LFP battery industry into North America, made it crucial for First Phosphate to advance its exploration, development and downstream mine-to-market activities. He said the Company continues to view igneous phosphate in multi-generational timelines and aims to continue with these objectives.

What does First Phosphate do?

First Phosphate describes itself as a mineral exploration and development and clean technology company dedicated to building and reshoring a vertically integrated mine-to-market supply chain for the production of LFP batteries in North America. Its stated target markets include energy storage, data centres, robotics, mobility and national security.

Where do First Phosphate shares trade and what are the ticker symbols?

First Phosphate is listed on the CSE under PHOS, on the OTCQX under FRSPF, as an OTCQX ADR under FPHOY, and on the FSE under KD0.

What property does First Phosphate identify as its flagship asset?

First Phosphate identifies its flagship Bégin-Lamarche property 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.

What risks and uncertainties did First Phosphate identify for its forward-looking information?

First Phosphate said actual results or developments may differ materially from its forward-looking information, citing market prices, development and exploration successes, availability of capital and financing, and general economic, market or business conditions. The Company also cited assumptions about meeting stock exchange and regulatory requirements, timely Canadian Securities Exchange approval subject to standard conditions, and satisfying conditions precedent to completion of the Offering.

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First Phosphate Closes $15,420,640 Private Placement

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First Phosphate Corp

CSE:PHOS
FSE:KD0
NASDAQ:PHOS
OTCQX:FRSPF

First Phosphate Closes $15,420,640 Private Placement

Published Monday, 15 June 2026

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At a glance

Company: First Phosphate Corp
Listings: CSE:PHOS, FSE:KD0, NASDAQ:PHOS, OTCQX:FRSPF
Announcement type: Financing
Published: Monday, 15 June 2026
Source announcement: firstphosphate.com

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) closed the Offering to existing and other follow-on investors.

The Offering closed on June 12, 2026, raising a total of $15,420,640.
It comprised 1,432,750 Hard Dollar Units at $2.00 each, generating gross proceeds of $2,865,500.
It also comprised 6,277,570 Flow-Through Shares at $2.00 each, generating gross proceeds of $12,555,140.
It issued 401,360 Compensation Warrants exercisable at $2.50 per common share until December 31, 2026, subject to the Accelerated Expiry Date.
Securities carry a four-month and one day statutory hold; another tranche may close at the Company’s discretion, subject to CSE policies.

The Company intends to use the proceeds as disclosed in its May 28, 2026, press release. It paid $156,880 in cash finder’s fee and issued 322,920 compensation Common Shares.

Investor FAQs

First Phosphate announced that it had closed its financing, known as the Offering, on June 12, 2026, with existing and other follow-on investors. The financing was conducted on the terms described in the Company’s news release dated May 28, 2026.

Source announcement

Company: First Phosphate Corp
Title: First Phosphate Closes Oversubscribed Private Placement to Existing and Follow-on Investors
Published: Monday, 15 June 2026
Source site: firstphosphate.com

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Figures, forecasts and other claims are the announcement's, not FAQSIR's. FAQSIR does not independently verify them.

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