Mar 27, 2024
Summary
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.
Stock Chart
Share Structure
| As of Feb 16, 2024 | |
| Shares Outstanding | 72,928,226 |
| Warrants
(5,250,000 @ $0.40; 10,144,495 @ $0.50; 1,607,789 @ $1.25) |
17,002,284 |
| Board/Management/Advisory Options, RSUs | 13,460,442 |
| Fully Diluted Shares Outstanding | 103,390,952 |
Investment Highlights
Geographic Advantage (Quebec, Canada)
- Friendly mining jurisdiction
- Electric vehicle hub for North America
- Strong government support for industry
- Meets Inflation Reduction Act requirements
- 43-101 completed, PEA completed, Minerology and Metallurgy (Pilot Plant) completed
- Bluesky properties
Prized Igneous Anorthosite Rock Phosphate
- World’s cleanest source of phosphate rock from igneous anorthosite
- Devoid of heavy metals, low sulphur
- Produces large amounts of LFP battery grade purified phosphate for LFP Battery
- Over 1500 km2 of royalty-free claims
LFP Battery Grade Plus
- Traceable, ethical, ESG, secure supply source
- Environmentally clean, circular advanced Mining and refinement methods
- Solventless phosphate extraction (no gypsum slag piles)
- Process using clean Quebec Hydro
Proximity to Saguenay City
- 6th largest city in Quebec
- Commercial and industrial area
- Skilled industrial workforce
Vicinity to Saguenay Airport
- Daily flights to Montreal
- Interconnection to the world
Access to Saguenay Deep Sea Port
- Large vessel access to the world
- Unimpeded by locks
- MoU in place with Port Saguenay
- Allocated area for all of our industrial development needs
Four Season, Heavy Haul Road Access
- Paved provincial highway for 65 km
- Heavy-haul gravel logging road for 80 km to base of property
Projects
Phosphate Concentrate Pilot Plant
- The pilot plant optimises the Company’s metallurgical process for the production of a super high grade phosphate concentrate approaching 41% P2O5. The pilot plant has produced over 900 kilograms of apatite concentrate which have been sent to the facilities of Prayon SA (“Prayon”) in Belgium for the production of battery-grade purified phosphoric acid (“PPA”). The battery-grade PPA produced will then be sent to Company partners for homologation into their LFP cathode active material production processes. The pilot plant also produces valuable, marketable recoveries of ilmenite and magnetite.
Purified Phosphoric Acid (PPA) Pilot Plant
- First Phosphate Corp.’s pilot project to transform its high purity phosphate concentrate into battery-grade purified phosphoric acid (“PPA”) for the lithium iron phosphate (LFP) battery industry has been successful.
Bégin-Lamarche Property
- 70 km from the deep-sea Port of Saguenay
- Main feature is a 7 km long airborne magnetic linear anomaly that runs N200
- 4,274 m drill program completed (20 drill holes)
Lac à l’Orignal Flagship Property
Lac Orignal & Supporting Land Package
- Includes every phosphate showing in the area around the Flagship property
- Free of all Net Smelter Royalties
Larouche Property
Bluesky Land Package
- 1500+ km2 of Additional Bluesky Land Claims
- Includes majority of known phosphate showings in the area
- Free of all Net Smelter Royalties
Management Profiles
John Passalacqua, Int’l MBA CEO and Director
John Passalacqua is an international business strategist with over 35 years of extensive technology and capital markets experience. In 1998, John gained the title of a top 50 international business strategist on the early internet. He is involved in private and public market planning for companies in nascent, visionary industries. John has lived in Quebec and is fluently bilingual.
Laurence W. Zeifman, CPA Chairman
Laurence W. Zeifman is an audit partner of Zeifmans LLP, a mid-sized Toronto public accounting firm. Larry has four decades of experience in public accounting and serves as chair of Nexia Canada, the Canadian division of the eighth largest international accounting network. He is also former Director of the Ottawa Senators Hockey Club / former Alternate Governor of the National Hockey League.
Bennett Kurtz CFO and Director
Bennett Kurtz is principal of Kurtz Financial Group. He has experience in financing public companies and taking private companies public. Bennett has multi-faceted business experience in finance, management, sales, marketing and administrative functions including business analysis, public business unit segmentation, internal and external analytics.
Gilles Laverdière, P. Geo Chief Geologist
Gilles Laverdiere is a geologist with more than 40 years of experience in mining exploration. Gilles has planned and supervised drilling projects in Quebec and elsewhere. He was President and CEO of HMZ Metals Inc. Gilles has served as a senior executive and board member of many public mining companies and is a member of the Ordre des Géologues du Québec.
David Dufour Manager, Public Relations
David Dufour has over 30 years experience in the development and the management of high-growth businesses in Saguenay, Quebec. He has worked as land surveyor, project manager and director of economic development. He also worked in economic development for the Government of Quebec. David specializes in the areas of eco-responsibility and local governance issues.
Armand MacKenzie Manager, Government Relations
Armand MacKenzie was raised in traditional Innu territory. He has practiced law for 15 years and was chief legal advisor on land rights for the Innu Nation. He was special advisor/negotiator on the drafting and adoption of the UN General Assembly Declaration on the Rights of Indigenous Peoples. He has negotiated numerous impact benefit agreements. He has been a mining executive for the last 15 years.
Marc Branson Independent Director
Marc Branson is president of CapWest Investments. Throughout his career, Marc has founded and grown companies in multiple sectors including mining, industrials, manufacturing, marketing, and consumer electronics. Marc currently serves on a number of public and private companies. He provides management and strategic guidance.
