First Phosphate Corp. CEO John Passalacqua joined Steve Darling from Proactive to announce a major step forward in the company’s financing strategy with the signing of an agreement with Integrity Capital Group, which will act as lead agent and bookrunner for a new “best efforts” private placement financing. The offering will consist of up to 25,000,000 units for gross proceeds of up to $15 million. Passalacqua explained that the financing, being conducted under a Listed Issuer Financing Exemption (LIFE) offering, represents one of the company’s largest raises to date. It comes on top of $20 million already secured in the past six months, bringing total capital raised to $35 million during that period. He noted that the decision to move forward with this financing reflects the company’s strategy to “fully de-risk the company” as it advances both its upstream and downstream initiatives. The additional capital will allow First Phosphate to progress its Bégin-Lamarche igneous phosphate mine in Quebec, while simultaneously laying the groundwork for downstream processing facilities aimed at supplying the lithium iron phosphate (LFP) battery sector. Discussing the financing environment for mining companies, Passalacqua highlighted the industry challenge known as the “Valley of Death,” the capital-intensive stage between completing preliminary economic assessments (PEAs) and advancing toward feasibility studies and permitting. He emphasized that First Phosphate is now well-capitalized to cross this stage without having to rely on royalties, debt, or additional dilution—an important differentiator for shareholders. Looking ahead, the company plans to launch metallurgical bulk sampling, definition drilling, and environmental programs this fall, with all results feeding into a feasibility study targeted for completion by the end of 2026. Permitting efforts are scheduled to commence shortly thereafter, with approvals anticipated by Q1 2027. #proactiveinvestors #firstphosphatecorp #cse #phos #otcqx #frspf #frspf #phosphate #CriticalMinerals #BatteryMaterials #LFPCathode #FirstPhosphate #CanadaMining #GreenEnergy #SupplyChain #QuebecMining #EVBatteries #dod