First Phosphate raises $3M from warrant exercises, remains debt-free

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Mon, May 4, 2026 astatine 7:53 AM CDT 1 min read

First Phosphate raises $3M from warrant exercises, remains debt-free

First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY) announced that it has raised much than $3 cardinal done the caller workout of stock acquisition warrants, adding to its backing basal arsenic it advances improvement plans.

The institution reported gross proceeds of $3,070,549 pursuing the workout of 2,456,439 warrants up of their expiry successful precocious April, with each warrant converted astatine a terms of $1.25 per share.

Following the transactions, First Phosphate said it has 179.9 cardinal communal shares outstanding, on with 2.63 cardinal warrants, 7.65 cardinal banal options and 1.98 cardinal restricted stock units.

The institution noted that each remaining warrants, options and restricted stock units are held by existent employees, absorption and committee members.

First Phosphate added that it remains debt-free and is advancing connected an accelerated improvement timeline, supported successful portion by a antecedently announced $16.7 cardinal non-repayable publication from the Government of Canada.

Since June 2022, the institution said it has raised astir $62.5 cardinal done a operation of management-led, non-brokered backstage placements and proceeds from enactment and warrant exercises.

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