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OR FOR DISSEMINATION IN THE UNITED STATES
Saguenay, Quebec--(Newsfile Corp. - October 6, 2025) - First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") announces that its proposed private placement equity financing, as announced in its press release dated September 29, 2025, will not be proceeding.
The offering under an engagement agreement entered into between the Company and Integrity Capital Group Inc. dated September 28, 2025 has been withdrawn given current market volatility.
"While the response to the proposed offering was exceptional, we have determined that now is not an opportune time for this offering," said John Passalacqua, First Phosphate Chief Executive Officer. "Due to the success of earlier offerings, the Company remains well capitalized to advance its development despite the withdrawal of this offering."
About First Phosphate Corp.
First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development company dedicated to producing high-purity phosphate for the Lithium Iron Phosphate battery industry. The Company is committed to sustainable extraction and purification with a low anticipated carbon footprint. Its vertically integrated model connects phosphate mining directly into the supply chains of North American battery producers. First Phosphate's flagship project, the Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean, Quebec, contains rare igneous anorthosite rock that yields high-purity phosphate with minimal impurities.
For additional information, please contact:
Bennett Kurtz
Chief Financial Officer
bennett@firstphosphate.com
Tel: +1 (416) 200-0657
Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com
Follow First Phosphate:
X: https://x.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate
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Forward-Looking Information and Cautionary Statements
This release includes certain statements that may be deemed "forward-looking information". Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In particular, this press release contains forward-looking information relating to, among other things, the use of the Company's current financial resources. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, development and exploration successes, continued availability of capital and financing, and general economic, and market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained in this release is qualified by these cautionary statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269363
SOURCE: First Phosphate Corp.
