Latest news with #Saguenay
Malay Mail
05-08-2025
- Business
- Malay Mail
First Phosphate Announces Intention to Complete Non-Brokered Private Placement to Accommodate Demand from Existing Investor
Flow-through shares of the Company ("Flow-Through Shares") at a price of $0.50 per share ("Flow-Through Offering"); and Hard dollar units of the Company ("Hard Dollar Unit") at a price of $0.50 per Hard Dollar Unit (the "Hard Dollar Unit Offering"), with each Hard Dollar Unit comprised of: (i) one common share in the capital of the Company ("Common Share"), and (ii) one half of one Common Share purchase warrant ("Warrant") with each whole Warrant exercisable for one Common Share at a price of $0.50 per Common Share until December 31, 2025, subject to an Accelerated Expiry Date (as defined below). [email protected] Saguenay, Quebec - Newsfile Corp. - August 5, 2025 - First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce a non-brokered private placement for gross proceeds of a minimum of $1 million to accommodate demand from an existing investor (the "").The Offering is anticipated to consist of any combination of:The gross proceeds from the Flow-Through Offering will be used to incur "Canadian exploration expenses" that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) related to the Company's projects in Québec. The net proceeds received from the Hard Dollar Unit Offering will be used for exploration and development activities, working capital and for general corporate purposes. The Offering is expected to close on or about August 22, 2025, or such other date or dates as may be determined by the Company. All securities issued under the Offering will be subject to a four-month and one day statutory hold period in accordance with applicable securities connection with the Offering, eligible finders will be paid: (i) a fee consisting of up to 8% of the gross proceeds raised from subscribers introduced by them, and (ii) such number of compensation warrants ("") as is equivalent of up to 8% of the number of Hard Dollar Units or Flow-Through Shares issued to subscribers introduced by them. Each Compensation Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.50 per share until December 31, 2025, provided that if the volume weighted average trading price of the Common Shares on the Canadian Securities Exchange for any 5 consecutive trading days equals or exceeds $0.80, the Company may, upon issuing a press release, accelerate the expiry date of the Compensation Warrants to the date that is 30 days following the date of such press release (""). The Company reserves the right to pay cash finders' fees on the Flow-Through Offering in Common Shares rather than cash issued at the Flow-Through Offering issue news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. There can be no assurance that the Offering will be completed, whether in whole or in Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development company dedicated to producing high-purity phosphate for the LFP battery industry. The Company is committed to sustainable extraction and purification with a low anticipated carbon footprint. Its vertically integrated model connects phosphate mining directly into the supply chains of North American battery producers. First Phosphate's flagship project, the Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean, Quebec, contains rare igneous anorthosite rock that yields high-purity phosphate with minimal KurtzChief Financial OfficerTel: +1 (416) 200-0657Investor Relations: [email protected] Media Relations: [email protected] Website: X:LinkedIn: This news release contains certain statements and information that may be considered "forward-looking statements" and "forward looking information" within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved" and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, among other things: the Company's planned exploration and production activities; the properties and composition of any extracted phosphate; the Company's plans for vertical integration into North American supply chains; the minimum gross proceeds of $1,000,000; the use of proceeds from the Offering; the terms of the Offering, including, the issuance of any securities, the closing date, and the receipt of all necessary statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company's public disclosure record including the short form base prospectus dated June 5, 2024, as well as: the receipt of all necessary approvals and the Company's ability to raise the minimum gross proceeds of $1,000, can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company's other documents filed with the Canadian and United States securities authorities, including without limitation the "Risk Factors" section of the Company's Management Discussion and Analysis dated July 25, 2025 and Annual Report on 20-F dated July 8, 2024, which are available on SEDAR at . Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. The issuer is solely responsible for the content of this announcement. About First Phosphate Corp.
CBC
30-07-2025
- CBC
Woman in Saguenay, Que., 7 months pregnant, missing for 6 days, police say
Police are searching for a 24-year-old woman who is seven months pregnant and has been missing for nearly a week in Saguenay, Que., located 200 kilometres north of Quebec City. Mariame Balde was last seen on July 24 travelling on foot, wearing white shoes, according to police. She is a Black woman with braided brown hair and brown eyes. Tanya Lapointe, police spokesperson for the City of Saguenay, says they have reason to fear for the woman's safety. Officers are on the ground conducting searches on Wednesday at Rosaire Gauthier Park, in the city's Chicoutimi borough and will be on foot in the wooded areas. Later in the afternoon, patrol officers on bikes will go to the Chicoutimi Pulperie and the Pulperie trails. On Tuesday, drones were used in the search, according to police.
The Independent
26-07-2025
- The Independent
What should we make sure to see on a visit to Quebec?
Q We are going to the Canadian province of Quebec for the first time next month, starting and ending in Montreal but with a trip north to the towns of Saguenay and Tadoussac. What would you recommend along the way? Name supplied A Montreal is beautiful, fun and relaxed. By European standards, the old town isn't particularly quaint, but it's pleasant enough. Outside the centre, charming Rue St-Denis has excellent places to eat and drink. If you are a meat eater, make your way to 3895 St Laurent Boulevard and order a smoked beef sandwich at Schwartz's Deli – a fixture since 1928. It's absurdly popular, but if you are happy to sit at the counter rather than at a table, you won't queue for long. Quebec City, northeast of Montreal along the ever-present St Lawrence River, is probably my favourite city in Canada because of its sheer good looks – with a compact, three-dimensional centre and an impressive cliff walk above the St Lawrence. The skyline is dominated by the extravagant 1893 hotel, the Chateau Frontenac – good fun to explore, either informally or on a proper tour. A new attraction: plunging into the waters of the St Lawrence River at L'Oasis, an Olympic-size swimming pool created in a dock in the Port of Quebec. It's open from June until 31 August, admission free. Your choices in the north are excellent. The drive along the inland route from Quebec City to Saguenay goes through muscular countryside, and Saguenay itself is engrossing: once known as the Chicago of the North thanks to the might of its aluminium and paper manufacturing, it is now laid bare with some haunting industrial archaeology. Parallel to it is the spectacular fjord that carries the Saguenay River to Tadoussac, where it meets the St Lawrence. Tadoussac is a charming riverside resort. At this point the St Lawrence is 10 miles wide. You could cross by ferry from Les Escoumins, slightly northeast to Trois-Pistoles on the opposite shore. But the left bank of the St Lawrence, the same as Tadoussac, has lots of appeal on the journey back to Quebec City and Montreal. Just before you reach Quebec City, the Montmorency Falls are impressive, with some fun walkways and bridges. Q Our son Chris, who's a single dad and has two boys aged eight and 10, was due to fly from Manchester airport to Malaga with Tui at 6am on Wednesday. The boys were so excited because they had never flown before. They were about 10 minutes from the airport when a motorbike travelling in excess of 100mph passed them, then crashed in front of their car. Sadly, the rider died. Police closed the motorway and would not let anyone through. The family missed the flight. To get to Malaga as quickly as possible, Chris rebooked on Ryanair from Leeds Bradford airport, at a cost of £500. Is he able to make a claim from anyone? Marlene K A The tragedy happened on the southbound M61 in the early hours of Wednesday morning. Diversions were swiftly set up, but motorists who were close to the scene of the accident were inevitably delayed for hours. The crash itself must have been deeply upsetting to witness. For your son and his family, this was followed by the growing realisation that the holiday flight they had been anticipating would take off without them. No doubt hundreds of other passengers missed holiday flights, too. When something like this happens, airlines are often flexible and will allow you to change to a later departure without a fee, if seats are available. Given the high 'load factor' on most holiday flights at this time of year, there may not have been space available – or it might have meant delaying the trip by a day. In the circumstances, your son responded appropriately by choosing the first available flight from a nearby airport. For peak summer, finding three seats on a Med-bound plane for a total of £500 was quite an achievement. The only avenue I think your son can reasonably pursue is travel insurance. He will need to demonstrate that he allowed plenty of time before departure. Such is the media coverage of the tragedy that it should be easy for the insurers to verify his story. He may also be able to claim for additional expenses, such as the cost of reaching Leeds Bradford airport, as well as delayed arrival at his holiday location. Q I understand that Gibraltar is now part of the Schengen area. Does that mean I can only stay for 90 days in any 180 days? 'South Coast Simon' A Once the post-Brexit deal for Gibraltar takes effect – probably by the end of 2025 – UK visitors to the British overseas territory will face tough new conditions for entry, while holders of a passport from Ireland (or any other Schengen-area nation) will breeze in with barely a care. Nine years after the democratic decision to leave the European Union, the future status of the British overseas territory has finally been agreed. The border infrastructure between Gibraltar and Spain is to be removed once all parties have ratified the deal, which will allow a free flow of people, vehicles and goods across the land frontier. While UK ministers are at pains to say that the Rock will not become part of the Schengen area, from the point of view of British travellers, it might as well be. Free movement will be possible from Gibraltar as far as the Arctic. So there is no alternative to treating all arrivals as entering the zone. Consequently, UK travellers flying to Gibraltar will face the same red tape as at any Schengen frontier post, with one trivial difference: the existing examination by the local Borders and Coastguard Agency will continue. Immediately after passing this check, travellers will encounter a Spanish frontier post. Here, British arrivals must meet Schengen passport validity conditions: no older than 10 years on the day of entry, and at least three months remaining on the intended day of departure. Even if you plan to stay put in Gibraltar, you will not be able to spend more than 90 days in any 180 days there. Initially, this will be checked using passport stamps. But within the next year, the plan is that visitors from outside the Schengen area will register via the entry-exit system, providing fingerprints and a facial biometric. All of this is the inevitable conclusion of the 'third-country' rules that Boris Johnson's government negotiated for UK citizens to enter Europe. Until then, including during the referendum campaign, the pretence was that the UK would achieve a special status vis-a-vis Europe. Who knows? Perhaps one day we shall. Q I'm lucky enough to be spending Christmas in Honduras, but on the way I will have to overnight in Miami and therefore enter the US. My question is whether it might be better to renew my passport in advance so that I have a perfectly 'clean' passport when I enter the US. My present document contains stamps from all kinds of fascinating countries, including Uzbekistan, Myanmar, Colombia, Nicaragua, Ethiopia, Tunisia and Egypt – which may ring alarm bells to a US immigration officer. Or would he or she be able to see my travel history regardless of my having a brand new passport? Chris Santry A You can relax – as long as your passport bears no evidence of a visit to Cuba, Iran, Iraq, Libya, North Korea, Somalia, Sudan, Syria or Yemen. Those nations are regarded by the US as 'state sponsors of terrorism'. If you have travelled to any of them since 2011 (for Cuba, since 2021), you are not entitled to obtain an Esta, the online permit that most British travellers need. Assuming that does not affect you, I predict no problems. So good is facial recognition these days that US Customs and Border Protection are unlikely even to glance at your passport. As your facial biometric will be encoded on the American immigration database, there is an element of 'We've been expecting you' as you step up and look into the camera at the desk. The official is likely to ask the purpose of your visit. When you answer, 'I'm overnighting before a flight to Honduras', the chances are that he or she will clear you immediately. Given the White House's insistence that 'all aliens seeking admission to the United States' should be 'vetted and screened to the maximum degree possible', you could be asked for evidence of a flight ticket out of the US, and of your hotel reservation in Miami. Perhaps the officer will look through your passport and ask a question or two about what you were doing in Egypt or Tunisia. But even if that happens, there should not be a problem when you explain that you were on vacation. Finally, US immigration officials have no access to records of where you may have been with previous passports.
Yahoo
18-07-2025
- Business
- Yahoo
First Phosphate Signs Agreement with Port Saguenay to Establish Phosphoric Acid Plant
Saguenay, Quebec--(Newsfile Corp. - July 18, 2025) - First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") announces that it has finalized an industrial land option agreement with Port of Saguenay (the "Port") located in Saguenay, Quebec, Canada (the "Agreement"). The Agreement marks progress on the memorandum of understanding ("MOU") signed between the Company and the Port on October 12, 2022. Under the Agreement, First Phosphate has the exclusive right to enter into a definitive land lease with the Port by December 31, 2027, subject to various financial and development milestones and prior to anticipated facility construction beginning in 2028. The Agreement covers lands where the Company plans to develop a phosphoric acid plant using advanced clean technology from Prayon SA of Belgium and to be implemented by international engineering firm Ballestra of Italy. These lands offer strategic benefits and a competitive position, including: Direct rail and vessel access to North American and global markets, especially to the company's European offtakers Access to large-scale industrial infrastructure, utilities and expansion lands Eventual vertical integration between upstream phosphoric acid and downstream LFP battery material production The Agreement was signed today in Montreal at the premises of the Wallonia Export & Investment Agency ("AWEX"). In attendance for the signing were: Claude Guay, Member of Parliament for LaSalle-Émard-Verdun, Parliamentary Secretary to the Minister of Energy and Natural Resources, Canada Mario Simard, Member of Parliament for Jonquière, Vice-Chair, Standing Committee on Natural Resources, Canada Andrée Laforest, Deputy, Chicoutimi, Minister of Municipal Affairs and Housing, Government of Quebec François Tremblay, Deputy, Dubuc, Government of Quebec Anne Defourny, Trade/Investment Counsellor, Wallonia Export & Investment Agency Carl Laberge, President and Board Chair, Port Saguenay John Passalacqua, CEO, First Phosphate Corp. David Dufour, Executive Vice-President, First Phosphate Corp. Signing of Agreement between Port Saguenay and First Phosphate, in Montreal, at Wallonia Export & Investment Agency To view an enhanced version of this graphic, please visit: "Our government's ongoing investments in Port Saguenay will enable companies such as First Phosphate to process phosphate into phosphoric acid right here in Saguenay. We continue our efforts to ensure that our infrastructure is up to par for attracting businesses to the port and to our surrounding communities. We remain proactive and positive for our Saguenay-Lac-Saint-Jean region," said Andrée Laforest, Member of Parliament for Chicoutimi, Minister of Municipal Affairs and Minister responsible for the Saguenay-Lac-Saint-Jean region, and François Tremblay, Member of Parliament for Dubuc. "The new Government of Canada supports the development of critical minerals and the infrastructure needed to support them. Phosphate has been included by the federal government in the Canadian list of critical minerals to open doors for phosphate projects across Canada. This agreement demonstrates the economic opportunities these minerals bring to Canada and Quebec in the production and processing of critical minerals. We thank First Phosphate and the Port of Saguenay for their work in pursuing these opportunities. By working together, we will build the strongest economy in the G7," said Claude Guay, Member of Parliament for LaSalle-Émard-Verdun and Parliamentary Secretary to the Minister of Energy and Natural Resources. "I am delighted with today's announcement: this is a major project for both the region and the whole of Quebec. Today, Saguenay-Lac-Saint-Jean is carving out a place for itself in the battery industry, and not just any place. This project is a symbol of sustainable economic development and is in line with our commitment to promoting projects that contribute to the energy transition," said Mario Simard, Member of Parliament for Jonquière and Bloc Québécois spokesperson for Natural Resources. "This agreement with First Phosphate confirms Saguenay's central role in the development of the critical minerals sector in both Quebec and Canada," said Saguenay Mayor Julie Dufour. "With our industrial infrastructure, strategic access to rail and maritime networks, and our strong commitment to welcoming innovative projects, Saguenay is proving its ability to attract major investment. This project aligns with our ambition to establish Saguenay as a key economic hub in northeastern Canada." "This agreement with First Phosphate confirms the strategic advantages and role of the Port of Saguenay as a natural logistics hub in northeastern Canada for the development of the critical minerals sector. It follows major investments and infrastructure projects currently underway in its industrial port zone and is in line with the collaboration agreement recently signed with North Sea Port, a strategic port area in Europe," said Mr. Carl Laberge, President and CEO of Port Saguenay. "This agreement represents a significant step forward for economic diversification and the establishment of a promising industrial sector for Quebec and Canada." To view details on the facilities at Port Saguenay, please see: Signature of Agreement between Port Saguenay and First Phosphate, in Saguenay, at Port Saguenay To view an enhanced version of this graphic, please visit: About First Phosphate Corp First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development company dedicated to producing high-purity phosphate for the LFP battery industry. The Company's vertically integrated approach connects sustainable phosphate mining in Quebec with North American battery supply chains, targeting the energy storage, data center, robotics, mobility, and defense sectors. First Phosphate's flagship Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean is one of North America's rare igneous phosphate resources, yielding high-purity phosphate with minimal impurities. About Port Saguenay The Saguenay Port authority (SPA), also known as the "Port of Saguenay", is an autonomous federal public enterprise incorporated under the Canada Marine Act in 1999. It is one of the 17 Canadian Port Authorities (CPAs), recognized for its strategic importance and its contribution to the country's economy. Located in the heart of Saguenay-Lac-St-Jean industrial region, the Port of Saguenay is a natural gateway to Northern Quebec and its extensive natural resources. Accessible all year round, its deep-water marine facilities are capable of accommodating some of the world's largest ships. Accessible directly from major North American rail and highway networks, the Port is also renowned for the quality and availability of its infrastructure. About the Walloon Export & Investment Agency in Quebec The Wallonia Export and Investment Agency ("AWEX") is a public interest organization created by the Walloon Region in 1998. It is the key partner for any Walloon company wishing to expand internationally and acts as a one-stop shop for any foreign company interested in establishing a presence in Wallonia. AWEX has maintained an office in Montreal for many years to strengthen trade relations between Wallonia and Quebec. It works in collaboration with the General Delegation Wallonia-Brussels based in Quebec City and the Embassy of Belgium in Ottawa. For additional information, please contact: Bennett KurtzChief Financial Officerbennett@ +1 (416) 200-0657 Investor Relations: investor@ Media Relations: media@ Follow First Phosphate: X: Forward-Looking Information and Cautionary Statements This news release contains certain statements and information that may be considered "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved" and other similar expressions. In addition, statements in this news release that are not historical facts are forward-looking statements, including, among other things: the Company's planned exploration and production activities; the properties and composition of any extracted phosphate; the Company's plans for vertical integration into North American supply chains, the Company's plans relating to the design, build, operation and maintenance of the Bégin-Lamarche Phosphate Mine (and the possibility of eventual economic extraction of minerals from therefrom); the Company's entering into of a definitive land lease for one or both of the Phase 1 and Phase 2 lands and the achievement of preconditions thereto; the achievement and completion of all required steps, including, without limitation, access to financing, and regulatory and environmental approvals, to build and operate a phosphoric acid and gypsum valorization facility, and lithium iron phosphate (LFP) cathode active material (CAM) production facility; the vertical integration between upstream phosphoric acid and downstream LFP CAM production; and the Company's access to international markets and any future partner co-location. These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company's public disclosure record including the short form base prospectus dated June 5, 2024, as well as: there being no significant disruptions affecting the activities of the Company or inability to access required project inputs; permitting and development of the projects being consistent with the Company's expectations; the accuracy of the current mineral resource estimates for the Company and results of metallurgical testing; certain price assumptions for P2O5 and Fe2O3; inflation and prices for Company project inputs being approximately consistent with anticipated levels; the Company's relationship with First Nations and other Indigenous parties remaining consistent with the Company's expectations; the Company's relationship with other third party partners and suppliers remaining consistent with the Company's expectations; government relations and actions being consistent with Company expectations. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company's other documents filed with the Canadian and United States securities authorities, including without limitation the "Risk Factors" section of the Company's Management Discussion and Analysis dated June 27, 2025 and Annual Report on 20-F dated July 8, 2024, which are available on SEDAR+ at Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. To view the source version of this press release, please visit
Malay Mail
18-07-2025
- Business
- Malay Mail
First Phosphate Signs Agreement with Port Saguenay to Establish Phosphoric Acid Plant
Direct rail and vessel access to North American and global markets, especially to the company's European offtakers Access to large-scale industrial infrastructure, utilities and expansion lands Eventual vertical integration between upstream phosphoric acid and downstream LFP battery material production Claude Guay, Member of Parliament for LaSalle-Émard-Verdun, Parliamentary Secretary to the Minister of Energy and Natural Resources, Canada Mario Simard, Member of Parliament for Jonquière, Vice-Chair, Standing Committee on Natural Resources, Canada Andrée Laforest, Deputy, Chicoutimi, Minister of Municipal Affairs and Housing, Government of Quebec François Tremblay, Deputy, Dubuc, Government of Quebec Anne Defourny, Trade/Investment Counsellor, Wallonia Export & Investment Agency Carl Laberge, President and Board Chair, Port Saguenay John Passalacqua, CEO, First Phosphate Corp. David Dufour, Executive Vice-President, First Phosphate Corp. [email protected] 2 5 2 3 Saguenay, Quebec - Newsfile Corp. - July 18, 2025 - First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) ("" or the "") announces that it has finalized an industrial land option agreement with Port of Saguenay (the "") located in Saguenay, Quebec, Canada (the "").The Agreement marks progress on the memorandum of understanding ("MOU") signed between the Company and the Port on October 12, 2022. Under the Agreement, First Phosphate has the exclusive right to enter into a definitive land lease with the Port by December 31, 2027, subject to various financial and development milestones and prior to anticipated facility construction beginning in Agreement covers lands where the Company plans to develop a phosphoric acid plant using advanced clean technology from Prayon SA of Belgium and to be implemented by international engineering firm Ballestra of Italy. These lands offer strategic benefits and a competitive position, including:The Agreement was signed today in Montreal at the premises of the Wallonia Export & Investment Agency ("AWEX"). In attendance for the signing were:To view an enhanced version of this graphic, please visit:"Our government's ongoing investments in Port Saguenay will enable companies such as First Phosphate to process phosphate into phosphoric acid right here in Saguenay. We continue our efforts to ensure that our infrastructure is up to par for attracting businesses to the port and to our surrounding communities. We remain proactive and positive for our Saguenay-Lac-Saint-Jean region," said Andrée Laforest, Member of Parliament for Chicoutimi, Minister of Municipal Affairs and Minister responsible for the Saguenay-Lac-Saint-Jean region, and François Tremblay, Member of Parliament for Dubuc."The new Government of Canada supports the development of critical minerals and the infrastructure needed to support them. Phosphate has been included by the federal government in the Canadian list of critical minerals to open doors for phosphate projects across Canada. This agreement demonstrates the economic opportunities these minerals bring to Canada and Quebec in the production and processing of critical minerals. We thank First Phosphate and the Port of Saguenay for their work in pursuing these opportunities. By working together, we will build the strongest economy in the G7," said Claude Guay, Member of Parliament for LaSalle-Émard-Verdun and Parliamentary Secretary to the Minister of Energy and Natural Resources."I am delighted with today's announcement: this is a major project for both the region and the whole of Quebec. Today, Saguenay-Lac-Saint-Jean is carving out a place for itself in the battery industry, and not just any place. This project is a symbol of sustainable economic development and is in line with our commitment to promoting projects that contribute to the energy transition," said Mario Simard, Member of Parliament for Jonquière and Bloc Québécois spokesperson for Natural Resources."This agreement with First Phosphate confirms Saguenay's central role in the development of the critical minerals sector in both Quebec and Canada," said Saguenay Mayor Julie Dufour. "With our industrial infrastructure, strategic access to rail and maritime networks, and our strong commitment to welcoming innovative projects, Saguenay is proving its ability to attract major investment. This project aligns with our ambition to establish Saguenay as a key economic hub in northeastern Canada.""This agreement with First Phosphate confirms the strategic advantages and role of the Port of Saguenay as a natural logistics hub in northeastern Canada for the development of the critical minerals sector. It follows major investments and infrastructure projects currently underway in its industrial port zone and is in line with the collaboration agreement recently signed with North Sea Port, a strategic port area in Europe," said Mr. Carl Laberge, President and CEO of Port Saguenay. "This agreement represents a significant step forward for economic diversification and the establishment of a promising industrial sector for Quebec and Canada."To view details on the facilities at Port Saguenay, please see: To view an enhanced version of this graphic, please visit:First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development company dedicated to producing high-purity phosphate for the LFP battery industry. The Company's vertically integrated approach connects sustainable phosphate mining in Quebec with North American battery supply chains, targeting the energy storage, data center, robotics, mobility, and defense sectors. First Phosphate's flagship Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean is one of North America's rare igneous phosphate resources, yielding high-purity phosphate with minimal Saguenay Port authority (SPA), also known as the "Port of Saguenay", is an autonomous federal public enterprise incorporated under the Canada Marine Act in 1999. It is one of the 17 Canadian Port Authorities (CPAs), recognized for its strategic importance and its contribution to the country's economy. Located in the heart of Saguenay-Lac-St-Jean industrial region, the Port of Saguenay is a natural gateway to Northern Quebec and its extensive natural resources. Accessible all year round, its deep-water marine facilities are capable of accommodating some of the world's largest ships. Accessible directly from major North American rail and highway networks, the Port is also renowned for the quality and availability of its Wallonia Export and Investment Agency ("AWEX") is a public interest organization created by the Walloon Region in 1998. It is the key partner for any Walloon company wishing to expand internationally and acts as a one-stop shop for any foreign company interested in establishing a presence in Wallonia. AWEX has maintained an office in Montreal for many years to strengthen trade relations between Wallonia and Quebec. It works in collaboration with the General Delegation Wallonia-Brussels based in Quebec City and the Embassy of Belgium in KurtzChief Financial OfficerTél: +1 (416) 200-0657Investor Relations: [email protected] Media Relations: [email protected] Website: X: LinkedIn: The issuer is solely responsible for the content of this announcement.
