First Phosphate closes $2.95-million private placement

Executive Summary

• First Phosphate Corp. closed an oversubscribed private placement to existing and follow-on investors, raising a total of $2.95 million.
• The financing consisted of 4,749,000 flow-through shares and 1.15 million hard-dollar units, both priced at $0.50 per unit.
• This transaction brings the company's total raised capital from management-led non-brokered private placements to approximately $31.4 million since June 2022.

Key Details

• Total Gross Proceeds: $2,950,000.
• Flow-Through Shares: 4,749,000 shares issued at $0.50 per share, generating gross proceeds of $2,374,500.
• Hard-Dollar Units: 1,150,000 units issued at $0.50 per unit, generating gross proceeds of $575,000.
• Finder’s Fees: $25,200 paid in cash.
• Compensation Shares: 218,320 compensation and advisory shares issued at a deemed price of $0.50 per common share.
• Compensation Warrants: 268,720 warrants issued, exercisable at $0.50 per common share until December 31, 2025 (subject to accelerated expiry).
• Statutory Hold Period: All securities issued are subject to a four-month-and-one-day statutory hold period.
• RSU Grant: Approval granted for 1,826,400 Restricted Share Units (RSUs) to eligible directors, management, and consultants in lieu of cash compensation for the six-month period starting September 1, 2025.
• RSU Vesting: The RSUs vest on February 28, 2026.
• RSU Hold Period: Shares issued under these RSUs are subject to a hold period of four months plus one day from the date of issuance.
• Use of Proceeds: As disclosed in the press release dated August 5, 2025.
• Future Tranches: The company may close another tranche of the offering at its discretion.
• Historical Context: Approximately $11.2 million of the total $31.4 million raised since June 2022 was closed in the past three months.