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First Phosphate Corp. ( (TSE:PHOS) ) has issued an update.
First Phosphate Corp. has successfully closed an oversubscribed private placement, raising $2.18 million from strategic and follow-on investors. This financing, part of a series of management-led non-brokered private placements, brings the company’s total capital raised to approximately $42.2 million since June 2022. The funds are intended to support the company’s ongoing projects, enhancing its strategic positioning in the cleantech and mineral development sectors. The issuance of compensation common shares and warrants, subject to certain conditions and statutory hold periods, reflects the company’s efforts to incentivize stakeholders and accelerate its growth trajectory.
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 for North America. The company targets markets such as energy storage, data centers, robotics, mobility, and national security, with its flagship Bégin-Lamarche Property in Quebec, Canada, known for its high-purity phosphate resources.
Average Trading Volume: 510,438
Technical Sentiment Signal: Buy
Find detailed analytics on PHOS stock on TipRanks’ Stock Analysis page.