TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
First Phosphate Corp. ( (TSE:PHOS) ) has shared an announcement.
First Phosphate Corp. has successfully closed an oversubscribed private placement, raising $2.95 million through the issuance of flow-through shares and hard dollar units. This financing is part of a larger effort, with the company raising approximately $31.4 million since June 2022, including $11.2 million in the last three months. The proceeds are intended to support the company’s operations and strategic initiatives, enhancing its position in the phosphate and battery industries. The offering included compensation in the form of cash, shares, and warrants, and the company has also approved restricted share units for directors and consultants as part of its 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 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, the Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean, Quebec, features rare igneous anorthosite rock that produces high-purity phosphate with minimal impurities.
Average Trading Volume: 187,211
Technical Sentiment Signal: Buy
Find detailed analytics on PHOS stock on TipRanks’ Stock Analysis page.