First Phosphate raises $2.95M to advance drilling, bolster plans for integrated LFP supply chain

Proactive - Interviews for investors

First Phosphate Corp. CEO John Passalacqua joined Steve Darling from Proactive to announce the Company has successfully closed its latest financing round, raising $2.95 million from an existing investor along with several follow-on investors. This financing marks the ninth management-led non-brokered private placement since June 2022, bringing total capital raised to approximately $31.4 million, with an impressive $11.2 million secured in just the past three months. Passalacqua emphasized that the fresh capital leaves First Phosphate in a solid financial position, with about $4 million in cash currently on hand. Since inception, the Company has now secured roughly $17 million in net funding, providing the resources necessary to advance its growth strategy. The funds will primarily support drilling and exploration activities at the Company’s Begin-Lamarche property, where First Phosphate is working to expand and define its resource base. Passalacqua also pointed to ongoing progress at the Lac à l'Orignal project, where assay results from the current drill program are expected within the next month. These results will feed into an updated resource estimate, a key milestone for the Company. Passalacqua reiterated the Company’s overarching objective: to build a vertically integrated operation capable of supplying phosphate material for the LFP (lithium iron phosphate) battery industry in North America. He highlighted that the surface phosphate mineralization at Begin-Lamarche strengthens the Company’s ability to establish a stable and sustainable supply chain for the growing EV and energy storage markets. With a clear strategy, a robust balance sheet, and strong investor support, First Phosphate continues to advance its mission of becoming a key player in securing North America’s clean energy future. #proactiveinvestors #firstphosphatecorp #cse #phos #otcqx #frspf #frspf #phosphate #CriticalMinerals #BatteryMaterials #LFPCathode #FirstPhosphate #CanadaMining #GreenEnergy #SupplyChain #QuebecMining #EVBatteries #dod