First Phosphate closes $17.7 million private placement, funds LFP battery supply chain

First Phosphate Corp. completed the final tranche of its over‑subscribed, non‑brokered private placement on 10 July 2026, bringing total gross proceeds to US$17.698 million. The raise consisted of US$14.476 million from 7.238 million flow‑through shares and US$3.222 million from 1.611 million hard‑dollar units. The last tranche contributed US$2.278 million, of which US$1.921 million came from 960,500 flow‑through shares and US$357 000 from 178,325 hard‑dollar units. The company paid a placement fee of US$12 000 and issued compensation shares and warrants as part of the transaction.

Proceeds are earmarked for expanding a vertically integrated supply chain for lithium‑iron‑phosphate (LFP) batteries in North America. In parallel, the board added Peter Kent as a director and he replaced John Passalacqua on the audit committee, which now includes Laurence W. Zeifman, Peter J. F. Nicholson and Kent. The financing follows earlier announcements on 28 May and 15 June 2026 and provides the liquidity needed to advance the company’s battery projects.

The placement securities are subject to a statutory holding period of four months and one day under applicable securities laws.