First Phosphate Raises $9.6 Million in Final Tranche of Oversubscribed Private Placement

First Phosphate Corp. ( (TSE:PHOS) ) has provided an update.

First Phosphate Corp. has closed the fourth and final tranche of its non-brokered private placement, bringing total gross proceeds from the four tranches to $9.6 million through a mix of Flow-Through Shares and Hard Dollar Units, and lifting its total capital raised since June 2022 to approximately $49.7 million across 10 management-led financings. The company issued additional compensation shares and warrants in connection with the latest tranche, updated prior disclosure on compensation securities, and confirmed related-party participation by director Peter Nicholson, which was structured under exemptions from formal valuation and minority approval requirements, underscoring the firm’s ongoing effort to strengthen its balance sheet and fund development of its Quebec-based LFP battery supply chain projects.

The most recent analyst rating on (TSE:PHOS) stock is a Buy with a C$1.59 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 an exploration, mineral development and cleantech company focused on building a vertically integrated, mine-to-market lithium iron phosphate (LFP) battery supply chain in North America, targeting end markets such as energy storage, data centers, robotics, mobility and national security. Its flagship Bégin-Lamarche property in Saguenay–Lac-Saint-Jean, Quebec, is a rare igneous phosphate resource that produces high-purity phosphate with minimal impurities, positioning the company within the growing battery materials sector.

Average Trading Volume: 623,439

Technical Sentiment Signal: Buy

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