May. 28 at 8:44 PM
$FRSPF Today, First Phosphate announced the closing of a non-brokered private placement totaling
$2,391,155, bringing the company’s total raised to
$22.7 million across seven management-led financings since June 2022: https://firstphosphate.com/first-phosphate-closes-oversubscribed-private-placement-financing-2/
Notably, directors Laurence Zeifman and Peter Nicholson participated as insiders.
With a rare high-purity igneous phosphate deposit in Saguenay, Quebec that boasts an NPV of
$2.1 billion, a 37.1% IRR, and a 2.9-year payback period, PHOS is uniquely positioned to convert phosphate rock into purified phosphoric acid—a critical and increasingly scarce input for LFP batteries.
For more information, refer to this breakdown: https://www.reddit.com/r/Wealthsimple_Penny/comments/1koefl4/strategic_supply_chain_first_phosphate_phosc/