Saguenay-Lac-Saint-Jean, Quebec – (Newsfile Corp. – June 15, 2026) – First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) (“first phosphate“Or”company“) is pleased to announce that, on June 12, 2026, it closed its financing (the “Offer”) to existing and other follow-on investors on the terms described in the Company news release dated May 28, 2026.
The Company raised a total of $15,420,640 by issuing 1,432,750 hard dollar units at a price of $2.00 per hard dollar unit for gross proceeds of $2,865,500 and issued 6,277,570 flow-through shares at a price of $2.00 per flow-through share for gross proceeds of $12,555,140.
With this offering, and through June 2022, the company has raised approximately $78 million from 11 managed-led non-brokered private-placement financings and funds from option and warrant exercises.
“With the recent entry of one of the leading global mining explorers and developers into the igneous phosphate field and the rapid uptake of the lithium iron phosphate (“LFP”) battery industry in North America by major global cell manufacturers and LFP end-product producers to support the growing energy storage, AI data center, factory automation and national security sectors, it is significant that First Phosphate continues its exploration, development and downstream mine-to-market in the igneous phosphate field. “Strongly pursue leadership,” First says. John Passalacqua, CEO of Phosphate. “The Company sees igneous phosphate over a multi-generational timeline and as the new gold of the energy transition. We thank our existing and new shareholders for supporting us in this vision and putting the Company in an even stronger financial position to continue pursuing these mission critical objectives.”
In connection with the Offering, the Company paid $156,880 in cash finder’s fees, issued 322,920 compensation common shares at a notional price of $2.00 per common share, and issued 401,360 compensation warrants, exercisable until December 31, 2026, at a notional price of $2.50 per common share of the Company. All securities issued under the Offering are subject to a statutory hold period of four months and one day in accordance with applicable securities laws. The Company intends to utilize the proceeds from the Offering as stated in the Company’s press release dated May 28, 2026. Capitalized words used in this news release have the same meanings as given in the Company’s news release dated May 28, 2026. The Company may close another tranche of the Offering at its discretion subject to the policies of the Canadian Securities Exchange.
insider participation
In connection with the offering, the Company’s Chairman of the Board, Lawrence W. Zeifman purchased 50,000 flow-through shares.
About First Phosphate Corporation
First Phosphate (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) is a mineral exploration and development and clean technology company dedicated to building and reestablishing a vertically integrated mine-to-market supply chain for the production of LFP batteries in North America. Target markets include energy storage, data centers, robotics, mobility, and national security.
First Phosphate’s flagship Bégin-LaMarche property, located in Saguenay-Lac-Saint-Jean, Quebec, Canada, represents a rare North American igneous phosphate resource that produces high-purity phosphate, with very low levels of impurities.
For additional information
bennett kurtz
CFO, CAO
Phone: +1 (416) 200-0657
Investor Relations: https://firstphosphate.com/investors
General enquiries: https://firstphosphate.com/contact
Website: www.FirstPhosphate.com
X: https://x.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate
Forward-Looking Information and Cautionary Statements
This release contains certain statements that may be considered “forward-looking information.” Any statement that discusses predictions, expectations, beliefs, plans, estimates, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “expects”, “estimates” or “does not anticipate”, “plans”, “budgets”, “schedules”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or state that certain actions, events or results “may” or “could”, “will”, “could” or “will” occur or be achieved) are not statements of historical fact and may constitute forward-looking information. In particular, this press release contains forward-looking information relating to, among other things, the continued onshoring of the LFP battery industry in North America, the progress of its exploration, development and downstream mine-to-market operations, the completion of further tranches of the offering, the intended use of the offering proceeds, the availability of tax credits and regulatory approvals, including the approval of the Canadian Securities Exchange (“CSE”). Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from the forward-looking statements include market prices, development and exploration successes, continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions, including, among other things, assumptions about general business and economic conditions; the Company and other parties will be able to satisfy stock exchange and other regulatory requirements in a timely manner; CSE approval will be granted in a timely manner only subject to standard conditions and all conditions precedent to the completion of the offering will be fulfilled in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from the results projected in the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained in this release is subject to these cautionary statements.
