First Phosphate closes final tranche of financing bringing a total of 8.2 million to treasury
First Phosphate Corp CEO John Passalacqua joined Steve Darling from Proactive to announce a significant milestone for the company – the successful closure of their oversubscribed financing round, which has brought in a substantial total of 8.2 million dollars.
During the interview, Passalacqua expressed his enthusiasm about this achievement, emphasizing that it represents a substantial vote of confidence from both existing and new shareholders, including several institutional investors. This influx of capital has positioned First Phosphate in a favorable stance to initiate drilling operations during the upcoming winter season, with the primary goal of uncovering the full scope and potential of the Bégin-Lamarche high-purity igneous rock phosphate horizon. Remarkably, this resource is located a mere 70 kilometers from the deep-sea Port of Saguenay, providing strategic logistical advantages.
The successful financing not only marks a significant financial achievement for First Phosphate Corp but also sets the stage for a year filled with exciting developments and opportunities that lie on the horizon. Investors and industry enthusiasts alike can look forward to a promising journey ahead for the company.
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