Financings

First Phosphate Closes Third Tranche of Oversubscribed Private Placement

By The Northwire Desk — AI Analysis Dec 15, 2025 · 07:12 PHOS · 0.97 First Phosphate Corp.

PHOS · Price

First Phosphate Corp. closed the third tranche of its non‑brokered private‑placement financing on December 12, 2025, raising $3,066,726.
The tranche consisted of 2,599,612 Flow‑Through Shares and 807,861 Hard Dollar Units (each unit = 1 common share + 1 warrant).
To date the company has raised approximately $46.7 million across ten management‑led private placements since June 2022.

Tranche Size & Structure
Flow‑Through Shares: 2,599,612 issued for gross proceeds of $2,339,651 (≈ $0.90 per share).
Hard Dollar Units: 807,861 units issued for gross proceeds of $727,075. Each unit comprises:
- 1 Common Share
- 1 Warrant (exercise price $1.25 per share, exercisable until April 30 2026, with an Accelerated Expiry Date).
Aggregate Financing to Date
Total gross proceeds from all three tranches of the current Offering: $6,637,574.
- Flow‑Through Shares total: 5,955,444 for $5,359,900.
- Hard Dollar Units total: 1,419,638 for $1,277,674.
Cumulative capital raised from ten non‑brokered private placements (June 2022 – Dec 2025): ≈ $46.7 million.
Compensation Shares & Warrants
Issued concurrently with the tranche: 8,000 compensation common shares and 8,000 compensation warrants (exercise price $1.25).
Statutory Hold Period
All securities issued are subject to a four‑month + one‑day statutory hold period under applicable securities laws.
Use of Proceeds
The company will allocate the funds as outlined in its November 7, 2025 press release (primarily for exploration, development of the Bégin‑Lamarche Property and related corporate purposes).
Future Financing Flexibility
Company may close additional tranches of the Offering at its discretion.

(No direct quotes were provided in the release.)

More from First Phosphate Corp.