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First Phosphate Corp
- CSE:PHOS
- FSE:KD0
- NASDAQ:PHOS
- OTCQX:FRSPF
First Phosphate Finalizes $16.7 Million Canadian Government Contribution Agreement
Published
At a glance
- Company
- First Phosphate Corp
- Listings
- CSE:PHOS, FSE:KD0, NASDAQ:PHOS, OTCQX:FRSPF
- Announcement type
- Financing
- Published
- 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) finalized an agreement with the Government of Canada.
- $16.7 million non-repayable contribution comes through Natural Resources Canada’s Global Partnerships Initiative.
- The agreement was finalized on March 4, 2026, and covers eligible activities planned through 2028.
- The funding is for a feasibility study of the integrated Bégin-Lamarche phosphate mine and processing project in Saguenay–Lac-Saint-Jean.
- The company says work will develop technical parameters, including processing circuits and equipment, for phosphate concentrate meeting LFP battery-market quality requirements.
- The company says work will use parameters established under its contract with its definitive offtaker.
The company says the project could create approximately 277 skilled jobs and potentially establish a Canadian phosphoric acid facility supported by local commercial phosphate-concentrate production.
Investor FAQs
First Phosphate announced that it finalized an agreement on March 4, 2026, for a $16.7 million non-repayable contribution from the Government of Canada through Natural Resources Canada’s Global Partnerships Initiative. The funding is for the development of the Bégin-Lamarche phosphate project.
First Phosphate finalized the agreement on March 4, 2026, and the announcement was published on March 16, 2026. The contribution covers eligible activities planned through 2028, in accordance with the agreement’s terms.
The agreement provides for a $16.7 million non-repayable contribution from the Government of Canada through Natural Resources Canada’s Global Partnerships Initiative. The contribution is granted for the completion of a feasibility study for First Phosphate’s integrated Bégin-Lamarche phosphate mine and processing project.
First Phosphate will use the funding to develop the technical and engineering parameters needed to validate the ability to produce a phosphate concentrate that meets the quality requirements of the lithium iron phosphate battery market. This includes work on processing circuits and equipment, based on parameters established under the contract between First Phosphate and its definitive offtaker.
The Bégin-Lamarche demonstration and feasibility project involves developing domestic capacity to process apatite, or phosphate concentrate, into high-purity phosphoric acid for battery applications. First Phosphate says the project will develop a scalable Canadian process for producing battery-grade phosphate concentrate.
First Phosphate says the project will generate significant economic benefits, including the creation of approximately 277 skilled jobs and the potential establishment of a Canadian phosphoric acid facility supported by local commercial production of phosphate concentrate. These statements are identified in the release as forward-looking information and are subject to the company’s stated assumptions and risks.
John Passalacqua, CEO of First Phosphate, said the investment supports continued progress on the project and its strategic role in the LFP battery supply chain. He said the company and the Canadian government are taking another step towards establishing an integrated phosphate-based LFP battery supply chain in Canada.
The Honourable Tim Hodgson, Minister of Energy and Natural Resources, said Canada and its partners were putting capital behind secure and resilient critical mineral supply chains relied on by economies and defence industries. He said supporting companies such as First Phosphate would help deliver minerals and support Canadian prosperity and security.
First Phosphate describes itself as a mineral exploration and development and clean technology company focused on building and reshoring a vertically integrated mine-to-market supply chain for LFP battery production in North America. Its target markets include energy storage, data centres, 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 shares trade on the CSE under PHOS, on the OTCQX under FRSPF, as an OTCQX ADR under FPHOY, and on the FSE under KD0.
The stated milestone is completion of a feasibility study for First Phosphate’s integrated Bégin-Lamarche phosphate mine and processing project. The contribution covers eligible activities planned through 2028, in accordance with the agreement.
First Phosphate cautions that the funding amount, anticipated benefits, timing and potential outcomes are forward-looking information and are not guarantees of future performance. It identifies risks including development and exploration results, continued access to capital and financing, economic and market conditions, permitting, project inputs, mineral resource estimates, metallurgical testing, commodity price assumptions, relationships with Indigenous parties and other partners, and government actions.
Source announcement
- Company
- First Phosphate Corp
- Title
- First Phosphate Signs Agreement for a $16.7 Million Non-Repayable Contribution with the Government of Canada
- Published
- Source site
- firstphosphate.com
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