First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF) said on Monday it closed another tranche of its non-brokered private-placement financing, bringing total proceeds from the two-part offering to about C$3.57 million.
The Canadian phosphate development company said it issued around 3.36 million flow-through shares for C$3.02 million and nearly 612,000 hard-dollar units for C$550,560 across both tranches. The latest tranche raised C$1.39 million, including C$999,999 from over 1.1 million flow-through shares and C$390,700 from over 431,000 hard-dollar units, each consisting of one common share and one warrant.
Since June 2022, First Phosphate has raised roughly C$43.6 million through 10 management-led private placements.