First Phosphate is a mineral development company fully dedicated to extracting and purifying high-grade igneous phosphate for the production of cathode active material for the Lithium Iron Phosphate (LFP) battery industry.
The company is committed to producing at high purity level, in responsible manner, and with low anticipated carbon footprint. It 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 Corp. (CSE:PHOS, NASDAQ:PHOS, FRA:KD0, OTCQX:FRSPF) said shareholders re-elected all five board nominees and approved an advance notice policy at its Annual General and Special Meeting, as the company's registered shareholder base grew 861% over the past year.
The company reported voter turnout of more than 34% at the meeting, held August 28, 2026, with all board nominees receiving support above 95%.
First Phosphate said its shareholder count reached 12,501 as of the record date for the 2026 meeting, up from 1,301 a year earlier, an increase of 861%. The figures, drawn from the company's transfer agent registrar and beneficial shareholder data from Broadridge, do not include any growth since the company's recent Nasdaq listing.
The company said the growth in its shareholder base reflects a positive sign of maturation in its corporate development, which it attributed to successful financings, management's commitment to results, and a broader understanding and appreciation of the company's vision, initiatives and opportunities among both retail and institutional investors.
First Phosphate Corp. (CSE:PHOS, NASDAQ:PHOS, FRA:KD0, OTCQX:FRSPF) earlier this week provided an update on the advancement of its Bégin-Lamarche property, with CEO John Passalacqua highlighting an expanded mineral resource, its NASDAQ uplisting and access to more than $50 million of capital as the company works towards its next development milestones.
Speaking to Proactive, Passalacqua said the updated NI 43-101 mineral resource estimate showed a significant increase in indicated resources and an increase in the volume of material.
First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY, NASDAQ:PHOS) has filed an updated mineral resource estimate for its Bégin-Lamarche phosphate project in Quebec, showing a 378% increase in indicated resources compared with the company's initial estimate.
The technical report outlines a measured pit-constrained resource of 6.2 million tonnes grading 7.70% P2O5, an indicated resource of 198.5 million tonnes grading 6% P2O5, and an inferred resource of 89.5 million tonnes grading 6.16% P2O5. The deposit remains open at depth.
First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY)’s C$4.84 million in new federal funding for infrastructure planning at its Bégin-Lamarche phosphate project in Quebec was welcomed by Noble Capital Markets analysts, who maintained an ‘Outperform’ rating on the company.
The analysts wrote that the federal funding “underscores the government's confidence in the project and provides additional assurance to investors and strategic partners regarding the company's ability to advance development.”
The non-repayable funding comes through Natural Resources Canada’s First and Last Mile Fund and builds on the C$16.7 million previously awarded to First Phosphate by NRCan in March 2026. Under the latest agreements, the funding will support eligible project activities through 2030.
First Phosphate's CEO, John Passalacqua joined Steve Darling from Proactive to announce the release of two detailed research reports prepared by Queen’s University and Université de Québec à Chicoutimi. The reports focus on the mineralogy, petrology, and geochemistry of the Mountain, North, and South Zones of the Bégin-Lamarche igneous phosphate deposit. This deposit, located within the Lac-Saint-Jean Anorthositic (LSJA) Suite in Québec, forms part of the world’s largest anorthosite complex. The comprehensive findings, now available on the company’s website, provide critical insights into the resource’s potential and strategic significance.
Passalacqua also addressed broader industry developments, particularly in light of recent geopolitical tensions surrounding CATL, the world’s largest battery maker, and its ties to China’s military. CATL’s inclusion on a U.S. government list alleging collaboration with China's military has raised concerns, particularly regarding its relationship with Tesla. CATL supplies lithium iron phosphate (LFP) batteries to Tesla’s Shanghai factory, the automaker's largest, and these batteries are exported to markets such as Europe and Canada. Some U.S. lawmakers have criticized CATL’s battery storage projects within the United States, citing potential security risks.