When did First Phosphate Corp. close the subsequent tranche of its private placement?

First Phosphate Corp. said the subsequent tranche closed on November 21, 2025. The announcement was published on November 24, 2025.

How much did First Phosphate Corp. raise under the subsequent financing tranche?

First Phosphate Corp. raised $1,390,699 under the subsequent tranche. This comprised $999,999 from 1,111,110 Flow-Through Shares and $390,700 from 431,111 Hard Dollar Units.

What are the aggregate proceeds from First Phosphate Corp.’s two private placement tranches?

First Phosphate Corp. said that both tranches raised aggregate gross proceeds of $3,570,848. This consisted of $3,020,249 from 3,355,832 Flow-Through Shares and $550,560 from 611,777 Hard Dollar Units.

What securities were included in First Phosphate Corp.’s Hard Dollar Units?

The Hard Dollar Units issued under the subsequent tranche comprised 431,111 Common Shares and 431,111 Warrants. The company reported gross proceeds of $390,700 from these units.

What compensation securities and fee did First Phosphate Corp. issue in connection with the financing?

First Phosphate Corp. issued 88,888 compensation common shares at a deemed price of $0.90 per common share and 88,888 Compensation Warrants exercisable at $1.25 per common share until April 30, 2026, subject to an Accelerated Expiry Date. It also paid a corporate finance fee of $12,500.

What restrictions apply to the securities issued by First Phosphate Corp. under the offering?

Securities issued under the offering are subject to a four-month and one day statutory hold period under applicable securities laws. Securities issued under the option and RSU grants are subject to a statutory hold period of four months plus one day under applicable securities legislation.

Could First Phosphate Corp. close another tranche of the offering?

First Phosphate Corp. said it may close another tranche of the offering at its discretion. The company also said there can be no assurance that any further securities will be sold under the offering.

What conditions remain attached to First Phosphate Corp.’s offering?

First Phosphate Corp. said completion of the offering is subject to certain conditions, including receipt of all necessary approvals. The release specifically refers to the approval of the CSE and the filing of the Offering Document as forward-looking matters.

What incentive stock options and restricted stock units did First Phosphate Corp. grant?

First Phosphate Corp. granted 4,700,000 incentive stock options and 1,303,000 restricted stock units as incentive compensation to officers, directors and other eligible participants. The grants were made under the company’s Omnibus Equity Incentive Plan.

What are the exercise price and vesting terms of First Phosphate Corp.’s options and RSUs?

Each option has an exercise price of $0.90 and expires on December 29, 2028, with 25% vesting every 6 months for two years following the grant date. The RSUs vest on January 1, 2026.

What does First Phosphate Corp. do and where do its shares trade?

First Phosphate Corp. describes itself as a mineral development and cleantech company focused on building and onshoring a vertically integrated mine-to-market lithium iron phosphate battery supply chain for North America. Its shares trade on the CSE under PHOS, the OTCQX under FRSPF and the FSE under KD0.

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First Phosphate Reports Closing of Subsequent Private Placement Tranche

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First Phosphate Corp

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

First Phosphate Reports Closing of Subsequent Private Placement Tranche

Published Monday, 24 November 2025

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Plain English summaries when First Phosphate Corp announces news.

At a glance

Company: First Phosphate Corp
Listings: CSE:PHOS, FSE:KD0, NASDAQ:PHOS, OTCQX:FRSPF
Announcement type: Financing
Published: Monday, 24 November 2025
Source announcement: firstphosphate.com

Key figures
Measure	Figure	Period
Flow-Through Shares	3,355,832 Flow-Through Shares	under both tranches of the Offering
Incentive stock options	4,700,000 incentive stock options	Not stated
Restricted stock units	1,303,000 restricted stock units	Not stated

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) (FSE: KD0) announced it closed a subsequent tranche of its non-brokered private placement financing.

The tranche raised $1,390,699: 1,111,110 Flow-Through Shares for $999,999 and 431,111 Hard Dollar Units for $390,700.
Across both tranches, gross proceeds were $3,570,848 from 3,355,832 Flow-Through Shares and 611,777 Hard Dollar Units.
It also issued 88,888 compensation shares at $0.90 and 88,888 Compensation Warrants exercisable at $1.25 until April 30, 2026, and paid $12,500.
Completion of the Offering is subject to conditions including all necessary approvals; US sales require registration or an available exemption.
The Company may close another tranche at its discretion, but no assurance was given that further securities will be sold.

Separately, the Company granted 4,700,000 Options and 1,303,000 RSUs, subject to a four-month-plus-one-day hold. Options carry a $0.90 exercise price and expire December 29, 2028; RSUs vest January 1, 2026.

Investor FAQs

First Phosphate Corp. announced that it closed a subsequent tranche of its non-brokered private placement financing on November 21, 2025. Under this tranche, it raised $1,390,699 through Flow-Through Shares and Hard Dollar Units.

Source announcement

Company: First Phosphate Corp
Title: First Phosphate Closes Follow-on Tranche of Oversubscribed Private Placement
Published: Monday, 24 November 2025
Source site: firstphosphate.com

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FAQSIR's summary and investor FAQs are generated by AI from the text of this announcement alone, without information from other sources.

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

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