First Phosphate Corp. (CSE PHOS) (FSE: KD0) is pleased to announce the signing of a non-binding memorandum of understanding with NorFalco Sales, a division of Glencore Canada Corporation, on July 17, 2023, to secure supply of sulfuric acid for its future industrial facilities in Saguenay-Lac-St-Jean, Quebec.

Under the terms of the MOU, and subject to the parties entering into a mutually agreeable definitive sulfuric acid supply agreement, First Phosphate agrees that NorFalco will supply the sulfuric acid required for First Phosphate’s future phosphoric acid and other industrial facilities located in Quebec, Canada. The companies will continue to work together over the term of the MOU, aiming towards a definitive supply agreement.

“We are pleased to have the support of NorFalco, Canada’s largest supplier and an industry leader in the marketing and distribution of sulfuric acid,” states First Phosphate CEO, John Passalacqua. “This agreement is a significant first step in what we expect to be a meaningful ongoing supply relationship. An agreement with NorFalco secures a key and often overlooked raw material from a major local supplier for the future development and growth of First Phosphate’s industrial activities.”

As previously announced, First Phosphate is pursuing the sustainable development of a phosphoric acid facility anticipated at Port of Saguenay, Quebec together with partner Prayon Technologies SA of Belgium. Sulfuric acid is a key input in the production of phosphoric acid. The phosphoric acid plant will be a key pillar in the development of a localized LFP battery supply chain in North America.

About First Phosphate Corp.

First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, at full ESG standard and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.

About NorFalco

NorFalco is one of North America’s largest merchant marketers of sulfuric acid. NorFalco markets acid production from three major North American production facilities which forms part of Glencore’s global sulfuric acid supply and trading network. Additionally, NorFalco has third-party offtake agreements with several producers outside of the Glencore group. NorFalco’s fully integrated distribution network, composed of rail cars, trucks, barges, vessels, storage tanks, trans-load terminals and import terminals, is one the most expansive sulfuric acid networks in North America. These production, marketing, and distribution strengths help ensure reliability to a diverse range of consumers across many different industries. NorFalco is a Responsible Care® company with the Chemistry Industry Association of Canada. NorFalco is committed to delivering “More than H2SO4 “. This means delivering customer solutions that make it easy to order, receive and use sulfuric acid in a safe and reliable manner.