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First Phosphate Corp. ( (TSE:PHOS) ) has issued an update.
First Phosphate Corp. announced the closure of a subsequent tranche of its non-brokered private placement financing, raising $3.78 million. This brings the total raised to $6.73 million across both tranches, contributing to a total of approximately $35.2 million raised since June 2022. The funds are intended to support the company’s operations and strategic initiatives. The successful financing reflects strong investor confidence and positions First Phosphate to further its role in the LFP battery industry, potentially impacting its market positioning and stakeholder interests.
The most recent analyst rating on (TSE:PHOS) stock is a Buy with a C$1.15 price target. To see the full list of analyst forecasts on First Phosphate Corp. stock, see the TSE:PHOS Stock Forecast page.
More about First Phosphate Corp.
First Phosphate Corp. is a mineral development company focused on producing high-purity phosphate for the LFP battery industry. The company emphasizes sustainable extraction and purification with a low carbon footprint, and its vertically integrated model connects phosphate mining directly to North American battery producers’ supply chains. Its flagship project is the Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean, Quebec, known for its rare igneous anorthosite rock yielding high-purity phosphate.
Average Trading Volume: 204,969
Technical Sentiment Signal: Buy
For a thorough assessment of PHOS stock, go to TipRanks’ Stock Analysis page.