UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September, 2024_________________.
Commission File Number 000-54260_________________
First Phosphate Corp.
(Translation of registrant’s name into English)
1055 West Georgia Street, 1500 Royal Centre, P.O. Box 11117,
Vancouver, British Columbia, V6E 4N7
(Address of principal executive office)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.
☒Form
20-F ☐ Form 40-F
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ___
SUBMITTED HEREWITH
The following documents of the
Registrant are submitted herewith:
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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First
Phosphate Corp. |
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(Registrant) |
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Date: September 9, 2024________________ |
By |
/s/“Bennett
Kurtz” |
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(Signature)* |
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Bennett
Kurtz, Chief Financial Officer |
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* Print the name and title under the signature
of the signing officer. |
Exhibit 99.1
First
Phosphate Chooses Facility in Saguenay-Lac-St-Jean, Quebec, Canada for Deployment of its Iron Phosphate Plant
Saguenay,
Quebec--(Newsfile Corp. - September 9, 2024) - First Phosphate Corp (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) (“First Phosphate”
or the “Company”) is pleased to announce that it has secured a facility lease for a 10,000 tonne per annum iron phosphate
cathode active material pre-cursor (“pCAM”) plant (“First Saguenay”) in Saguenay (La Baie), Quebec, Canada.
Iron phosphate
is a key pre-cursor used in the production of cathode active material (“CAM”) for lithium iron phosphate (“LFP”)
batteries.
Local
Support and Job Creation in Saguenay-Lac-St-Jean, Quebec, Canada
The establishment
of the First Saguenay plant is intended to lead to the creation of approximately one hundred new high-tech jobs in the Saguenay-Lac-St-Jean
Region of Quebec, Canada. The development of First Saguenay is supported by a number of local parties in the region’s economic
development landscape including:
| ● | Promotions Saguenay (economic
development corporation for the city of Saguenay) |
| ● | Saguenay-Le Fjord Chamber of Commerce and Industry (CCISF) |
| ● | Alliage 02 (Saguenay-Lac-Saint-Jean
Manufacturers and Industrial Parks Corporation) |
| ● | Saguenay-Lac-St-Jean Economic Maximization Committee
(CMAX) |
| ● | Pekuakamiulnuatsh First
Nation (Mashteuiatsh) |
“This
announcement is another very positive step for phosphate mining in our region, and the start of the LFP sector in Saguenay-Lac-St-Jean,
Quebec,” states Ms. Andrée Laforest, deputy for the Quebec riding of Chicoutimi, Quebec Minister of Municipal Affairs
and Minister responsible for the Saguenay-Lac-Saint-Jean region. “We’ve been talking about this potential for a long time,
and we’re finally seeing the efforts of the First Phosphate team come to fruition today and for years to come. The Company’s regional
production will have positive effects for us and for Port Saguenay, which will be a major player in the development of this sector.”
“This
plant is the first link in the LFP Battery Valley in Saguenay-Lac-St-Jean,” emphasizes Éric Larouche, Chairman of
the Board of Promotion Saguenay. “Our goal is to facilitate the creation of this North American value chain, right here at
home in Saguenay-Lac-St-Jean, Quebec: from the phosphate mine, to LFP cathode powder and, eventually, to the LFP battery itself.”
“This
commitment with First Phosphate today sends a clear signal about our potential to position within the battery ecosystem: home-grown
raw material and an international shipping corridor. The builders in our region will assume their role in global decarbonization
efforts,” emphasizes François Tremblay, Quebec Member of Parliament for Dubuc.
An
important First Step in Establishing First Phosphate Downstream Operations in Saguenay-Lac-St-Jean, Quebec, Canada
First Saguenay
is to be retrofitted into a large portion of the existing building at 5373 Chemin Saint-Anicet, La Baie, Quebec, adjacent to the
existing processing plant owned by Logistique Proco Inc. (“Proco”). Proco is to act as the building contractor. Proco
is well established in the engineering and construction sector in Quebec, having worked on major projects in the province and,
many, specifically in the battery sector (https://www.proco.ca/fr/realisations (https://api.newsfilecorp.com/redirect/DZmrwUMyjo)).
The First Saguenay lease with Proco is for 10 years and is renewable thereafter.
The facility
is heated, equipped with process water, wastewater treatment, natural gas, high-voltage electricity and served by direct North
American rail link into the facility. Moreover, the entire facility occupies more than 305,000 square feet of industrial space,
portions of which should become available progressively for expanded First Saguenay operations, as well as several hectares of
adjacent green-field industrial land available for expanding operations.
The investment
needed for the commencement of operations at First Saguenay is estimated at approximately USD $65 M (CAD $90 M). The lease is
conditional upon First Phosphate arranging the financing necessary to carry-out the proposed activities prior to April 30, 2025.
First Phosphate is considering various options for financing and structuring First Saguenay including non-dilutive options.
First
Saguenay Iron Phosphate Facility (exterior view)
(https://images.newsfilecorp.com/files/8917/222576_d306a751147dfac1_001full.jpg)
To
view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8917/222576_d306a751147dfac1_001full.jpg
(https://images.newsfilecorp.com/files/8917/222576_d306a751147dfac1_001full.jpg)
An
important First Step in Establishing the North American LFP Battery Valley in Saguenay-Lac-St-Jean, Quebec, Canada
First Saguenay
is to serve as a key and complimentary part of the Company’s planned downstream processing facilities and full vertical integration
plans from phosphate mine to creation of LFP CAM. First Saguenay is intended to work synergistically in the transformation and
value-added processing of the feedstock from the Company’s proposed mining operations which are located approximately 80 km and
120 km from the Company’s two major phosphate properties in the region.
First
Saguenay has a strategic logistical advantage located at 20 km from the deep-sea port of Saguenay, where the Company intends
to organize the next phases of its industrial activities, as well as its inbound and outbound international trade. The
industrial zone at Port Saguenay will become an important location in the development of the LFP battery industry, and First
Phosphate plans to set up its future advanced processing operations at the port together with other worldwide LFP battery
players.
First Saguenay
is also positioned at a few kilometers from Canadian Air Forces NATO Base Bagotville and its local airport providing passenger
and freight linkages to the world.
First Saguenay
is to be linked directly and seamlessly to the Canadian National Railway network which connects directly to other railway networks
across North America for easy entry of supplies and delivery of product to clients across the North American battery industry.
Details
of First Phosphate’s strategy to create a fully integrated supply chain for LFP batteries in North America, based on the establishment
of the Saguenay-Lac-St-Jean region of Quebec, Canada as the LFP battery valley of North America, can be found at: https://firstphosphate.com/fr/lfp-battery-strategy
(https://api.newsfilecorp.com/redirect/rv4jOuxGD4).
Logistical
Advantage of the LFP Battery Valley in Saguenay-Lac-St-Jean, Quebec, Canada
(https://images.newsfilecorp.com/files/8917/222576_d306a751147dfac1_002full.jpg)
To
view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8917/222576_d306a751147dfac1_002full.jpg
(https://images.newsfilecorp.com/files/8917/222576_d306a751147dfac1_002full.jpg)
Feasibility
and Client Relationships
The Company
has begun the first phase of its project feasibility study with Ultion Technologies (“Ultion”), a US-based company that
is a pioneer in the LFP battery industry. The study is to determine the infrastructure required to support the permit applications
as well as the lease facility retrofitting requirements.
The technology
to be implemented is proven and already operating in two other facilities in the world, one with a capacity of 10,000 tonnes per
annum and another with a capacity of 50,000 tonnes per annum, as announced on December 11, 2023 (https://firstphosphate.com/ultion-technologies-mou
(https://api.newsfilecorp.com/redirect/V7VgBf4n13)). Thanks to the industrial capacity of the chosen technology, First Saguenay
expects to be able to move directly into commercial-size, scalable production without having to go through a pilot stage.
Initial
production from First Saguenay is anticipated for the first quarter of 2026 to meet anticipated demand from the Company’s existing
partners: American Battery Factory (https://firstphosphate.com/abf (https://api.newsfilecorp.com/redirect/zEB5DFOgBb)), Ultion
(https://firstphosphate.com/ultion-technologies-mou (https://api.newsfilecorp.com/redirect/4QAKVCz3rL) and other potential clients
in the fields of energy storage, electric vehicles and specialized battery products with which the Company is in advanced discussions.
The commencement
of operations at First Saguenay entails meeting a number of project requirements. The Company is working diligently through the
process to satisfy all such requirements.
About
First Phosphate Corp.
First Phosphate
(CSE: PHOS) (OTC: FRSPF) (FSE: KD0) 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.
For
additional information, please contact:
Bennett
Kurtz, CFO
bennett@firstphosphate.com
(mailto:bennett@firstphosphate.com)
Tel: +1 (416) 200-0657
Investor
Relations: investor@firstphosphate.com (mailto:investor@firstphosphate.com)
Media Relations: media@firstphosphate.com (mailto:media@firstphosphate.com)
Website: www.FirstPhosphate.com (https://api.newsfilecorp.com/redirect/jp0MGfJDQV)
Follow
First Phosphate:
Twitter:
https://twitter.com/FirstPhosphate (https://api.newsfilecorp.com/redirect/v1GQpfYAN1)
LinkedIn:
https://www.linkedin.com/company/first-phosphate (https://api.newsfilecorp.com/redirect/JgOJDSDyan)
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 including the full integrational plans from phosphate mine to the creation of LFP CAM, the viable
commercialization of Company products and demand for the end product, availability of partnership and client relationships, the
availability of existing or new facilities to accommodate the First Saguenay operations and any enlargement thereto, the completion
of the Financing, including any non-dilutive options, the acquisition and retrofitting of infrastructure, and receipt of all required
approvals, project timelines and budgets, the implementation of the technology and the ability to move straight into commercial
size, scalable production, the availability of raw materials necessary to operate First Saguenay on terms acceptable to the Company,
and the viable commercialization of Company products.
These
statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate
and reasonable in the circumstances, including, without limitation, expectations of the Company’s long term business outcomes
given its short operating history; expectations regarding revenue, expenses and operations; the Company having sufficient working
capital and ability to secure additional funding necessary for the exploration of the Company’s property interests; expectations
regarding the potential mineralization, geological merit and economic feasibility of the Company’s projects; expectations regarding
drill programs and the potential impacts successful drill programs could have on the life of the mine and the Company; mineral
exploration and exploration program cost estimates; expectations regarding any environmental issues that may affect planned or
future exploration programs and the potential impact of complying with existing and proposed environmental laws and regulations;
receipt and timing of exploration and exploitation permits and other third-party approvals; government regulation of mineral exploration
and development operations; expectations regarding any social or local community issues that may affect planned or future exploration
and development programs; expectations surrounding global economic trends and technological advancements; and key personnel continuing
their employment with the Company, as well as, the Company’s market analysis of the expected economics of First Saguenay’s operations,
including the initial investment, operating expenditures, raw material costs and availability, and ability to leverage and grow
third party client relationships, the historical track-record of the technology, the direction from its partners regarding infrastructure
needs and implementation, and the Company’s ability to raise sufficient capital to complete the Financing, maintain corporate
capacity; and stability in financial and capital markets.
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. Important factors that could cause actual results to differ materially from the Company’s
expectations include: limited operating history; high risk of business failure; no profits or significant revenues; limited resources;
negative cash flow from operations and dependence on third-party financing; the uncertainty of additional funding; no dividends;
risks related to possible fluctuations in revenues and results; insurance and uninsured risks; litigation; reliance on management
and key personnel; conflicts of interest; access to supplies and materials; dangers of mineral exploration and related liability
and damages; risks relating to health and safety; government regulation and legal uncertainties; the company’s exploration and
development properties may not be successful and are highly speculative in nature; dependence on outside parties; title to some
of the Company’s mineral properties may be challenged or defective; Aboriginal title and land claims; obtaining and renewing licenses
and permits; environmental and other regulatory risks may adversely affect the company; risks relating to climate change; risks
related to infrastructure; land reclamation requirements may be burdensome; current global financial conditions; fluctuation in
commodity prices; dilution; future sales by existing shareholders could cause the Company’s share price to fall; fluctuation and
volatility in stock exchange prices; and risks related to market demands. 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 Annual Information Form dated November 29, 2023 and Annual Report on 20-F which are available
on SEDAR at www.sedarplus.ca. (https://api.newsfilecorp.com/redirect/Gm54YFanx8) 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.
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