First Phosphate Corp. dedicated to the mining and refining of advanced phosphate material for the lithium iron phosphate (“LFP”) battery industry has just closed the final tranche of its oversubscribed private placement, raising a total of CAD 3.4 million. Due to strong demand, the company had increased the cap on its private placement to CAD 3.4 million from the original CAD 2 million.
John Passalacqua, CEO of First Phosphate commented, “We are pleased to have exceeded our initial fundraising target. We are focused on the Saguenay-Lac-St-Jean region of Quebec and aim to make this region a major center for the development of the lithium iron phosphate (LFP) battery industry in North America…”
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