First Phosphate closes $3.06M 3rd tranche of financing

Executive Summary

• First Phosphate Corp. closed the third tranche of its non-brokered private placement on December 12, 2025, raising $3,066,726 in this specific tranche.
• The company has now raised a total of $6,637,574 across three tranches, consisting of 5,955,444 flow-through shares and 1,419,638 hard-dollar units.
• This transaction brings the company's total capital raised through management-led non-brokered private placements since June 2022 to approximately $46.7 million.

Key Details

• Third Tranche Proceeds: $3,066,726 raised in the current tranche.
• Third Tranche Composition:
  • Issuance of 2,599,612 flow-through shares for gross proceeds of $2,339,651.
  • Issuance of 807,861 hard-dollar units (comprising 807,861 common shares and 807,861 warrants) for gross proceeds of $727,075.
• Aggregate Offering (All Three Tranches):
  • Total Gross Proceeds: $6,637,574.
  • Total Flow-Through Shares Issued: 5,955,444 (Gross Proceeds: $5,359,900).
  • Total Hard-Dollar Units Issued: 1,419,638 (Gross Proceeds: $1,277,674).
• Historical Context: The company has raised approximately $46.7 million in 10 management-led non-brokered private-placement financings since June 2022.
• Compensation: Issued 8,000 compensation common shares and 8,000 compensation warrants.
  • Exercise Price: $1.25 per common share.
  • Expiry: April 30, 2026 (subject to accelerated expiry date).
• Regulatory Conditions: All securities are subject to a four-month-and-one-day statutory hold period. Completion is subject to necessary approvals.
• Use of Proceeds: As disclosed in the press release dated November 7, 2025.
• Future Discretion: The company may close another tranche of the offering at its discretion.

Notable Quotes

• None provided in the text.