First Phosphate Closes Final Tranche of Oversubscribed Private Placement

Executive Summary

• First Phosphate Corp. closed the fourth and final tranche of its non‑brokered private placement, raising $2,977,904.
• Cumulative proceeds from all four tranches total $9,615,478 (8,009,333 Flow‑Through Shares and 2,674,531 Hard Dollar Units).
• The company also issued compensation shares and warrants to directors and disclosed a related‑party purchase of 443,260 Flow‑Through Shares by director Peter Nicholson.

Key Details

• Final Tranche Amount: $2,977,904 raised on December 19 2025.
• Securities Issued in Final Tranche:
• 2,053,889 Flow‑Through Shares – gross proceeds $1,848,500.
• 1,254,893 Hard Dollar Units (each unit = 1 Common Share + 1 Warrant) – gross proceeds $1,129,404.
• Total Offering Summary (all four tranches):
• Gross proceeds $9,615,478.
• 8,009,333 Flow‑Through Shares issued for $7,208,400.
• 2,674,531 Hard Dollar Units issued for $2,407,078.
• Compensation Shares/Warrants Issued:
• 24,000 compensation common shares and 24,000 compensation warrants (exercise price $1.25, expiry April 30 2026, accelerated expiry provision).
• Revised disclosure: third tranche included 52,444 compensation common shares and 52,444 compensation warrants.
• Related‑Party Transaction: Director Peter Nicholson indirectly purchased 443,260 Flow‑Through Shares in connection with the Offering; transaction qualifies for MI 61‑101 exemption (≤25% of market cap).
• Statutory Hold Period: All securities subject to a four‑month and one‑day hold period under applicable securities laws.
• Use of Proceeds: As previously disclosed on November 7 2025 (intended to improve financial position and fund ongoing operations).

Notable Quotes

(No executive quotes were included in the release.)