First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is pleased to announce that it has closed its financing to the strategic investor and other follow-on investors, on terms as described in the Company’s news release dated June 30, 2025.

The Company raised a total of $3,229,529 through the issuance of 9,127,085 Flow-Through Shares at a price of $0.35 for gross proceeds of $3,194,479.75, and 100,142 Hard Dollar Units at a price of $0.35, comprised of 100,142 Common Shares and 50,071 Warrants, for gross proceeds of $35,049.70. The Offering was completed on substantially the same terms as the Company’s earlier $1.0 million non-brokered private placement announced on May 9, 2025 which was oversubscribed for proceeds of $3.5 million and which closed on May 27 and June 2, 2025.

Together with this Offering, the Company has raised to date a total of approximately $27.0 million in 8 management-led non-brokered private-placement financings since June 2022.

In total, in connection with the Offering, the Company paid $1,600 in cash finder’s fees, issued 642,844 Compensation Shares and advisory shares at a price of $0.35 per common share, and issued 647,416 Compensation Warrants, exercisable at a price of $0.50 per common share of the Company, until December 31, 2025, subject to an Accelerated Expiry Date. All securities issued under the Offering are subject to a four-month and one day statutory hold period in accordance with applicable securities laws. The Company intends to use the proceeds from the Offering as disclosed in the Company’s press release dated June 30, 2025. Capitalized terms used in this news release and not defined herein have the meanings given to them in the Company’s news release dated June 30, 2025. The Company may close another tranche of the Offering at its discretion.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. There can be no assurance that any further securities will be sold under Offering.

About First Phosphate Corp.

First Phosphate is a mineral development company dedicated to producing high-purity phosphate for the LFP 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.