First Phosphate Announces $15 Million Private Placement Pursuant to LIFE Offering

Core Viewpoint - First Phosphate Corp. has announced a private placement offering to raise up to $15 million through the sale of units priced at C$0.60 each, aimed at funding various corporate initiatives including feasibility studies and infrastructure development [2][5]. Company Overview - First Phosphate is a mineral development company focused on producing high-purity phosphate for the lithium iron phosphate (LFP) battery industry, emphasizing sustainable extraction methods [9]. - The company's flagship project is the Bégin-Lamarche Property located in Saguenay-Lac-Saint-Jean, Quebec, which contains rare igneous anorthosite rock known for yielding high-purity phosphate with minimal impurities [9]. Offering Details - The private placement will consist of up to 25,000,000 units, each comprising one common share and one common share purchase warrant, with the warrants allowing the purchase of additional shares at C$0.90 for 36 months [3]. - The offering is scheduled to close on October 10, 2025, or on a date mutually agreed upon by the company and the lead agent, Integrity Capital Group Inc. [5]. Use of Proceeds - The net proceeds from the offering will be allocated towards completing the feasibility study and permitting for the Bégin-Lamarche Property, developing downstream infrastructure, and general corporate purposes [5]. Regulatory Compliance - The offering will comply with applicable regulatory requirements and will be available to purchasers in all Canadian jurisdictions, with potential offerings in the U.S. and offshore jurisdictions on a private placement basis [4][8].