First Phosphate arranges $15-million private placement

Executive Summary

• First Phosphate Corp. announced a best‑efforts private placement of up to 25 million units at $0.60 per unit, targeting gross proceeds of up to $15 million.
• Each unit consists of one common share and one common share purchase warrant (exercise price $0.90, 36‑month term).
• Net proceeds are earmarked for the feasibility study and permitting of the Begin‑Lamarche flagship property, downstream infrastructure development, acquisitions, and general corporate purposes; closing is expected on Oct. 10, 2025.

Key Details

• Placement Structure: Up to 25 million units; each unit = 1 common share + 1 warrant.
• Pricing: $0.60 per unit → up to $15 M gross proceeds.
• Warrant Terms: Exercise price $0.90 per share, exercisable for 36 months from closing.
• Lead Agent/Bookrunner: Integrity Capital Group Inc. (best‑efforts basis).
• Commission & Broker Warrants:
• Cash commission to Integrity = 8 % of gross proceeds (reduced to 2 % on certain President’s List purchases).
• Non‑transferable broker warrants issued to Integrity equal to 8 % of units sold (also reduced to 2 % on certain President’s List purchases); each warrant exercisable at $0.90 per share for 36 months, subject to a hold period of four months and one day post‑closing.
• Regulatory Framework: Offered under NI 45‑106 prospectus exemptions; units sold to Canadian residents via listed issuer financing exemption; may also be offered in the U.S. and offshore jurisdictions where lawful.
• Use of Proceeds:
• Completion of feasibility study & permitting for Begin‑Lamarche property.
• Development of downstream infrastructure.
• Potential acquisitions.
• General corporate purposes.
• Closing Date: Scheduled for Oct. 10, 2025 (or other dates as determined).

Notable Quotes

(No direct quotes provided in the release.)