First Phosphate Takes PHOS to Nasdaq as Its North American LFP Strategy Advances

Duration: 3:57 655 transcript words EN summary

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First Phosphate has achieved a significant milestone by successfully uplisting its American Depository Receipts onto the Nasdaq Global Market, marking it as a fully fledged security on one of the world's most prestigious exchanges. This strategic move was accomplished through an efficient process that utilized their existing Canadian Securities Exchange listing and did not require any capital raise from shareholders. Consequently, there has been no dilution to current investors, allowing First Phosphate to maintain its financial stability while gaining access to a broader global audience for investment opportunities in the North American lithium phosphate market. The transition to Nasdaq was facilitated by securing the trading symbol "PHOS," which aligns perfectly with the company's core business of producing phosphates and lithium iron phosphate (LFP) materials essential for electric vehicle batteries. Unlike many dual listings that impose heavy financial burdens or require complex accounting changes, First Phosphate retained its current systems as an MJDS issuer while keeping only about 1.3 million ADRs outstanding on the new platform. This approach not only enhanced their global accessibility but also allowed institutions from outside North America to participate in US markets more easily, effectively removing previous barriers that prevented them from buying stocks listed solely on Canadian or European exchanges. Beyond corporate governance achievements, First Phosphate now boasts a comprehensive support package including additional funding of nearly five million dollars from the Canadian government for roads and infrastructure projects, alongside fast-track status in Quebec and interest from G7 nations. With backing from stakeholders across Europe, Canada, and the United States, the company is well-positioned to advance its feasibility studies, secure necessary permits, and reach a final investment decision by the end of 2027. The leadership team emphasizes that they now possess all critical elements required to bring their project together successfully, combining hard work with strong financial reserves to drive forward in an increasingly competitive global energy transition landscape.

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[music] >> Today I have the pleasure of speaking with First Phosphate, who you've just listed on Nasdaq. You're going to New York City tomorrow. Where do we start? >> Well, where do we start? So, First Phosphate, as you know, is listed on the Canadian Securities Exchange. It's listed also on the Frankfurt Börse, and it's also listed on OTCQX. Just a couple of days ago, we were uplisted onto Nasdaq. That is our American Depository Receipt, which trades at a 10 to 1 to the common share. So, it's now a fully fledged American security trading on Nasdaq, Nasdaq Global Market, which is the highest order of Nasdaq. >> I see that our team is already updated your banners. Your banners are running with the Nasdaq PHOS. How did you get the PHOS for Phosphate? >> Yeah, I guess we got PHOS in Canada, and we also got PHOS on Nasdaq. So, it was available, and we snatched it quickly. >> For those of you out there who have not done the dual listing before, cuz this is officially a dual listing. You don't always get to keep your your trading symbol. >> Sometimes you're lucky, sometimes you got to work for it. We had our eye on it for a long time, and so now we're PHOS globally. >> So, one of the things people should also understand is you don't increase the amount of shares. That's a a common misperception when you dual list. Would you like to add anything to that? >> So, the way we listed, we listed through an American Depository Receipt, which was a fairly easy process. We remain an MJDS issuer. It's not a huge onerous burden on the company financially. We keep our our current accounting systems for all intents and purposes. The other interesting thing that Tracy is we did this without a capital raise, so there was no capital raise at the time. There's only about 1.3 million ADRs outstanding on the on the Nasdaq symbol. And so, there was no dilution to shareholders. It was just a net net positive without any downside for us. >> Any other plans after ringing the bell tomorrow morning media any kind of event? >> We're in New York City for a number of meetings a number of investor meetings. We have about three large gatherings as well as some private one-to-ones. So just getting the word out on the new ADR and it's interesting now because Tracy institutions can get involved in the US before some larger institutions cannot buy on stock exchanges outside of the US outside of Nasdaq outside of NYSE. So now we're accessible to anyone anywhere in the world on one of the world's the largest and most prestigious and and accessible exchanges. >> Well, we appreciate you sharing this exciting news with us and of course you just recently announced Canadian government lining up again behind you with an additional near five million dollars in roads and infrastructure. Is there anything else you'd like to add other than we want to wish you well as you race off to the airport? >> So we have the whole package now. We've got Canadian government support. We've got Quebec fast track status. We've got the G7 interested in the project as well in supporting got support from United States, Canada, countries in in Europe and now listed on one of the major bosses in the world Nasdaq. So we've got everything that we need to bring this project together now. Hardworking team, loaded coffers and we're marching through to our feasibility study our permitting and our final investment decision all by the end of 2027. >> And for all of you Americans out there interested in finding out more, please go to the following website John. Thank you so much. >> Thank you so much Tracy. Great to be here. >> Mhm.