First Phosphate closes $2.18-million private placement

Executive Summary

• First Phosphate Corp. closed an oversubscribed private placement to existing and follow-on investors, raising a total of $2.18 million.
• The financing consisted of the issuance of flow-through shares and hard-dollar units, along with compensation shares and warrants.
• This transaction brings the company's total raised capital from management-led non-brokered private placements since June 2022 to approximately $42.2 million.

Key Details

• Total Gross Proceeds: $2,180,149 ($2,020,250 from flow-through shares + $159,899 from hard-dollar units).
• Flow-Through Shares: 2,244,722 shares issued at $0.90 per share for gross proceeds of $2,020,250.
• Hard-Dollar Units: 177,666 units issued at $0.90 per unit for gross proceeds of $159,899.
• Compensation Shares: 178,698 common shares issued at a deemed price of $0.90 per share.
• Compensation Warrants: 178,698 warrants issued, exercisable at $1.25 per common share.
• Warrant Expiry: April 30, 2026, subject to an accelerated expiry date if the volume-weighted average trading price on the Canadian Securities Exchange equals or exceeds $2 for any five consecutive trading days (expiry accelerates to 30 days following press release).
• Hold Period: All securities are subject to a four-month-and-one-day statutory hold period.
• Historical Context: The company has raised approximately $42.2 million in 10 management-led non-brokered private placement financings since June 2022.
• Use of Proceeds: As disclosed in the press release dated Nov. 7, 2025.
• Future Tranches: The company may close another tranche of the offering at its discretion.

Notable Quotes

• None provided in the text.