First Phosphate Corporation to Secure Direct Investment of $1 Million Without Intermediaries in a Private Offering
Rewritten Article:
First Phosphate Courts Major Dough – A Million Bucks in the Pipeline
Yo, hear this! First Phosphate Corp, that mineral exploration biz rising up in Saguenay, Quebec, is cookin' something hot. They're planning a non-brokered private placement worth at least a cool million bucks! 💸💸💸
The nitty-gritty of this deal? It's gonna be a combo of Flow-Through Shares and Hard Dollar Units. Each Hard Dollar Unit will net you a Common Share and half a warrant, with each whole warrant enabling you to grab a Common Share at a sweet $0.50 price until December 31, 2025 - providing the share price on the Canadian Securities Exchange (CSE) doesn't hit the magic $0.80 for five days straight, 'cause then the warrants could get accelerated.
So, where does this dough go? Half of it'll be funneled into Canadian exploration expenses related to their Quebec projects – the kind that qualifies as 'flow-through mining expenditures' under the Income Tax Act (Canada). The remainder will be used for exploration and development activities, the wallet-padding stuff like working capital and general corporate purposes.
The party could kick off as early as May 27, 2025, or whenever the company decides to blow the whistle. But remember, securities issued through this offering will be subject to a four-month cooldown as per the rules.
Chart
Line chart with 52 data points.Chart für First PhosphateThe chart has 1 X axis displaying Time. Data ranges from 2024-05-13 14:00:00 to 2025-05-09 14:00:00.The chart has 1 Y axis displaying values. Data ranges from 0.155 to 0.39.Lade...End of interactive chart.
Finder's fees might be on the table too, depending on who gets their mitts on subscribers. They could receive up to 8% of gross proceeds in cold, hard cash or, if the company wants to get creative, they could cash in with Compensation Shares instead.
First Phosphate
The news ain't for the Yanks, so don't even think 'bout spreading it south of the border. It's not legal in the States, and that's that.
Canadian Secur... ·
However, here's the lowdown on First Phosphate Corp in a nutshell: They're a fresh-faced, phosphate-lovin' company, committed to goin' green and keepin' it local, aimin' to integrate their phosphate mining directly into the North American battery manufacturer supply chains. Their flagship project in Saguenay-Lac-Saint-Jean is packed with badass magmatic anorthositic rock, yieldin' high-purity phosphate with minimal impurities.
So there ya have it! First Phosphate Corp is all about pursuing that green gold and growin' their coin. Keep an eye on those stocks, folks, 'cause things could heat up real fast!
For more deets, hit up Bennett Kurtz at [email protected] or give him a ring at +1 (416) 200-0657. Or, if you want to stay in the loop, get in touch with [email protected] or [email protected]. You can also check 'em out at www.FirstPhosphate.com.
Psst... Follow 'em on Twitter @FirstPhosphate and LinkedIn First Phosphate for all the latest happenings! 💼💼💼
Need-to-Know:- Stock Symbols: CSE: PHOS, OTCQB: FRSPF, FWB: KD0- News Source: IRW-Press- The details of the private placement, including securities issued, price per share, and warrant terms, have not been disclosed in the available information.- The net proceeds from the private placement will be used for exploration and development activities, working capital, and general corporate purposes. The gross proceeds from the Flow-Through Offering will be used for Canadian exploration expenses related to First Phosphate's projects in Quebec.- The private placement is expected to close in one or more tranches on or before May 27, 2025, or at such other time as the company may determine. All securities issued pursuant to the private placement will be subject to a four-month and one-day hold period.- Pursuant to the private placement, eligible finders may receive a cash commission of 8% and/or Compensation Shares of the company instead of cash. Each Compensation Warrant will entitle the holder to acquire one Common Share at a price of $0.50 per share until December 31, 2025. The exercise price may be subject to earlier expiry if the volume-weighted average trading price of the Common Shares on the CSE exceeds $0.80 for five consecutive trading days.- The private placement is not registered in the United States and cannot be sold to U.S. persons or U.S. news services, except under exemptions to the registration requirements of the U.S. Securities Act of 1933 and any applicable U.S. state securities laws. The Company reserves the right to pay finder's fees for the Flow-Through Offering in the form of Compensation Shares rather than cash.- The information provided is based on the available announcements of First Phosphate Corp, and it is advisable to refer to official filings or press releases by the company for detailed information.
- Commerzbank's finance department has added a line on their chart for First Phosphate, tracking the company's potential growth after the announcement of a non-brokered private placement worth $1,000,000.
- The distribution of funds from First Phosphate's private placement will see half allocated towards Canadian exploration expenses related to their Quebec projects, while the rest will be utilized for exploration and development activities, working capital, and general corporate purposes.
- In the pipeline for First Phosphate Corp is the issuance of a combination of Flow-Through Shares and Hard Dollar Units as part of the private placement deal, with each Hard Dollar Unit granting a Common Share and half a warrant.
- The private placement offering by First Phosphate Corp carries the potential for finder's fees, with eligible parties able to receive up to 8% of gross proceeds in cash or Compensation Shares instead.
