First Phosphate completes oversubscribed private placement

First Phosphate Corp., a high-purity phosphate company, closed an overhang private placement financing on May 27, 2025. This non-brokered financing raised $2,391,155 through the issuance of over 4 million flow-through and common shares. This transaction was one of seven similar financings since June 2022, totaling approximately $22.7 million.

The funds raised will be used in accordance with the company's previous disclosures. Certain members of the board of directors participated in the placement, generating related-party transactions exempt from certain regulatory assessments due to the size of the transaction. All securities issued are subject to a four-month statutory hold period.