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First Phosphate Corp. ( (TSE:PHOS) ) has shared an announcement.
First Phosphate Corp. has successfully closed a follow-on tranche of its oversubscribed private placement, raising a total of $3,570,848 through the issuance of Flow-Through Shares and Hard Dollar Units. This financing is part of the company’s ongoing efforts to raise capital, having accumulated approximately $43.6 million since June 2022. The funds will support the company’s strategic initiatives, including its flagship project in Quebec. Additionally, First Phosphate has granted incentive stock options and restricted stock units to its officers and directors, aligning with its Omnibus Equity Incentive Plan.
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 and cleantech company focused on establishing a vertically integrated mine-to-market lithium iron phosphate (LFP) battery supply chain in North America. The company targets markets such as energy storage, data centers, robotics, mobility, and national security. Its flagship property, Bégin-Lamarche, located in Saguenay–Lac-Saint-Jean, Quebec, Canada, is a rare igneous phosphate resource known for high-purity phosphate with minimal impurities.
Average Trading Volume: 532,830
Technical Sentiment Signal: Buy
Learn more about PHOS stock on TipRanks’ Stock Analysis page.