First Phosphate announces $2 million private placement offering

First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) announced a non-brokered private placement offering for minimum gross proceeds of $2 million to accommodate a strategic investor.

The offering will consist of flow-through shares at $0.90 per share and hard dollar units at $0.90 per unit. Each hard dollar unit includes one common share and one warrant exercisable at $1.25 per share until April 30, 2026.

Proceeds from the flow-through shares will fund Canadian exploration expenses classified as flow-through mining expenditures under Canada's Income Tax Act for the company's Quebec projects. Net proceeds from hard dollar units will support exploration and development activities, working capital, and general corporate purposes.

The offering is expected to close on or about November 21, 2025. All securities issued will be subject to a four-month and one-day statutory hold period under applicable securities laws.

Eligible finders will receive fees up to 8% of gross proceeds from subscribers they introduce, plus compensation warrants equal to 8% of securities issued to those subscribers. Compensation warrants are exercisable at $0.90 per share until April 30, 2026, with potential acceleration if the company's shares trade at or above $2.00 for five consecutive days.

First Phosphate operates the Bégin-Lamarche Property in Quebec's Saguenay-Lac-Saint-Jean region, described as a North American igneous phosphate resource. The company focuses on developing a lithium iron phosphate battery supply chain for energy storage, data centers, robotics, mobility and national security applications.

Completion of the offering requires regulatory approvals and satisfaction of closing conditions. The company stated no assurance exists that the offering will be completed in whole or part.

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