First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY)’s American Depositary Receipts began trading on the Nasdaq Global Market on Monday after the company’s ADR program was upgraded to a Level 2 listing.
The ADRs trade under the ticker ‘PHOS,’ with each ADR representing 10 First Phosphate common shares. The Level 1 ADRs previously traded on the OTCQX market and were automatically converted to Level 2 ADRs in connection with the Nasdaq uplisting.
The Nasdaq listing is in addition to First Phosphate’s existing listings, including its common shares on the OTCQX under ‘FRSPF,’ the Canadian Securities Exchange under ‘PHOS’ and the Frankfurt Stock Exchange under ‘KD0.’
The company noted that the uplisting does not involve a new securities offering, with no additional shares being issued and no capital being raised as part of the move.
Investors can continue to convert First Phosphate common shares into ADRs at no cost through December 31, 2026, with The Bank of New York Mellon serving as depositary bank for the program.