First Phosphate Closes Final Tranche of Oversubscribed Private Placement

About this update from First Phosphate Corp.

[{"type":"text","content":"THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES","length":67,"tagName":"p","attribs":{}},{"type":"text","content":"Saguenay, Quebec--(Newsfile Corp. - December 22, 2025) - First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce that, on December 19, 2025, it closed the fourth and final tranche of its non-brokered private placement financing (the "Offering"), as further described in the Company's news releases dated November 7, November 17, November 24, and December 15, 2025.","length":472,"tagName":"p"},{"type":"text","content":"In aggregate, under the four tranches of the Offering, the Company has raised gross proceeds of $9,615,478 through the issuance of 8,009,333 Flow-Through Shares for gross proceeds of $7,208,400, and through the issuance of 2,674,531 Hard Dollar Units for gross proceeds of $2,407,078. Under this final tranche of the financing, the Company raised a total of $2,977,904 through the issuance of 2,053,889 Flow-Through Shares for gross proceeds of $1,848,500 and 1,254,893 Hard Dollar Units, comprised of 1,254,893 Common Shares and 1,254,893 Warrants, for gross proceeds of $1,129,404.","length":583,"tagName":"p"},{"type":"text","content":"Together with this Offering, the Company has raised to date a total of approximately $49.7 million in 10 management-led non-brokered private-placement financings since June 2022.","length":178,"tagName":"p"},{"type":"text","content":"In connection with the current tranche of the Offering, the Company issued 24,000 compensation common shares and 24,000 Compensation Warrants, exercisable at a price of $1.25 per common share of the Company, until April 30, 2026, subject to an Accelerated Expiry Date. Further, the Company wishes to revise the disclosure in its press release dated November 24, 2025 to confirm that it issued 52,444 compensation common shares and 52,444 Compensation Warrants in the third tranche of the Offering. All securities issued under the Offering are subject to a four-month and one day statutory hold period in accordance with applicable securities laws. The Company intends to use the proceeds from the Offering as disclosed in the Company's press release dated November 7, 2025. Capitalized terms used in this news release and not defi...

More updates from First Phosphate Corp.