First Phosphate’s John Passalacqua on the significance of securing a LOI for $170M from EXIM
In a recent InvestorNews interview hosted by Tracy Weslosky, First Phosphate Corp.‘s (CSE: PHOS | FSE: KD0) CEO and Director, John Passalacqua, talks about their recent news release on securing a letter of interest for up to USD $170 million from the Export-Import Bank of the United States (EXIM). Highlighting the significance of this development, John explains how it aligns perfectly with the critical minerals strategy to produce phosphate and Lithium Iron Phosphate (LFP) batteries in North America.
John emphasized the non-dilutive nature of the EXIM financing and how the credit line is mostly guaranteed towards the purchase of US goods and services by First Phosphate to develop their project in Quebec, Canada.
The timing couldn’t be better, as First Phosphate recently signed an MOU with American Battery Factory Inc. for the onshoring of up to 40,000 tonnes of LFP Cathode Active Material production in North America. John explains how the EXIM line of credit will play a pivotal role in realizing their ambitious vision of producing LFP Cathode Active Material for North American battery manufacturers.
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, in responsible manner 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.
Disclaimer: First Phosphate Corp. is an advertorial member of InvestorNews Inc.
This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.
This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.
Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. This presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisors. Each person to whom this presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. Prospective investors are urged to review the Company’s profile on SedarPlus.ca and to carry out independent investigations in order to determine their interest in investing in the Company.
#Phosphate #LFPBattery #BatteryMaterials #EXIM
