First Phosphate closes $3.78-million financing tranche

Executive Summary

• First Phosphate Corp. closed a subsequent tranche of its non-brokered private placement financing on September 12, 2025.
• The company raised a total of $3.78 million in this specific tranche through the issuance of flow-through shares and hard-dollar units.
• Cumulative gross proceeds from all tranches of this offering now total $6.73 million, with the company having raised approximately $35.2 million in management-led private placements since June 2022.

Key Details

• Tranche 2 Gross Proceeds: $3.78 million total.
• Flow-Through Shares Issued: 5.15 million shares for gross proceeds of $2.58 million.
• Hard-Dollar Units Issued: 2,415,000 units (comprising 2,415,000 common shares and 1,207,500 warrants) for gross proceeds of $1.21 million.
• Aggregate Offering Totals:
  • Total Gross Proceeds: $6.73 million.
  • Total Flow-Through Shares: 9,899,000 shares (Gross Proceeds: $4.95 million).
  • Total Hard-Dollar Units: 3,565,000 units (Gross Proceeds: $1.78 million).
• Historical Financing Context: The company has raised approximately $35.2 million in nine management-led non-brokered private placements since June 2022, with $14.9 million closed in the last five months.
• Finder’s Fees and Compensation:
  • Cash finders' fees paid in current tranche: $36,000.
  • Shares issued to purchasers of hard-dollar units in current tranche: 324,800 common shares.
  • Warrants issued to purchasers of hard-dollar units in current tranche: 396,800 warrants.
  • Total cash finders' fees paid in connection with the offering: $61,200.
  • Compensation/advisory shares issued: 543,120 shares at $0.50 per share.
  • Compensation warrants issued: 665,520 warrants exercisable at $0.50 per share, expiring December 31, 2025 (subject to accelerated expiry).
• Regulatory Conditions: All securities are subject to a four-month-and-one-day statutory hold period.
• Use of Proceeds: As disclosed in the news release dated August 5, 2025.
• Future Tranche: The company intends to close one final tranche of the offering on September 19, 2025.