First Phosphate CEO on $16.7M in federal funding for Bégin-Lamarche phosphate project

First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY) CEO John Passalacqua talked with Proactive's Stephen Gunnion about the company's newly secured C$16.7 million non-repayable contribution from the Government of Canada and how it will support development of the Bégin-Lamarche phosphate project in Quebec. Passalacqua explained that the funding is a significant milestone for the company because it allows First Phosphate to advance its project through key development stages without needing to raise additional dilutive capital. The Bégin-Lamarche deposit is described as a rare igneous phosphate deposit specifically suited for the production of high-purity phosphate used in lithium iron phosphate (LFP) batteries, an increasingly important battery chemistry for electric vehicles and energy storage. Passalacqua noted that the government support will fund progress through the feasibility study stage and toward a final investment decision, marking an important validation of the project and its strategic role in North America’s battery supply chain. He highlighted the significance of the contribution, stating: “This contribution from the federal government of Canada is extremely important for us. It gets us all the way throughout our feasibility study, all the way through to final investment decision without having to raise capital dilutively.” The CEO also outlined upcoming milestones investors should watch, including the completion of final drilling, advancement to a feasibility study targeted for completion by the end of 2026, environmental permitting expected in 2027, and the potential start of mine operations by 2029 to meet existing offtake agreements. Passalacqua further explained that First Phosphate aims to play a major role in building a fully integrated LFP battery supply chain in North America, producing material from mine through to cathode active material used in lithium-ion batteries. For more interviews and market insights, visit the Proactive YouTube channel, give this video a like, subscribe to the channel, and enable notifications so you never miss future content. #FirstPhosphate #BatteryMaterials #LFPBatteries #EVSupplyChain #PhosphateMining #CriticalMinerals #EnergyTransition #QuebecMining #LithiumIronPhosphate #CSEStocks