First Phosphate Closes Oversubscribed Private Placement to Existing and Follow-on Investors

Executive Summary

• First Phosphate Corp. closed a financing on November 14, 2025, raising $2.18 million in total proceeds.
• The offering consisted of 2,244,722 Flow‑Through Shares at $0.90 each ($2,020,250) and 177,666 Hard Dollar Units at $0.90 each ($159,899).
• Compensation components included 178,698 common shares (deemed price $0.90) and 178,698 warrants exercisable at $1.25 per share, with an accelerated expiry provision tied to the CSE trading price.

Key Details

• Total proceeds: $2.18 million (gross proceeds of $2,020,250 from Flow‑Through Shares + $159,899 from Hard Dollar Units).
• Securities issued:
• 2,244,722 Flow‑Through Shares @ $0.90 per share.
• 177,666 Hard Dollar Units @ $0.90 per unit.
• Compensation issuance:
• 178,698 compensation common shares at a deemed price of $0.90 per share.
• 178,698 Compensation Warrants exercisable at $1.25 per share, valid until April 30 2026, with an accelerated expiry trigger if the CSE VWAP ≥ $2.00 for five consecutive trading days.
• Statutory hold period: All securities subject to a four‑month and one‑day statutory hold period.
• Cumulative financing to date: Approximately $42.2 million raised across ten management‑led non‑brokered private placements since June 2022.
• Use of proceeds: As disclosed in the November 7, 2025 press release (intended for corporate and project development purposes).
• Potential additional tranche: Company may close another tranche at its discretion.

Notable Quotes

(No executive quotes were included in this release.)