01:48 PM EDT, 06/11/2024 (MT Newswires) -- First Phosphate ( FRSPF ) said Tuesday it filed and received a receipt for its final short-form base shelf prospectus.

The company plans to use the shelf prospectus to raise funds for the feasibility study for its eventual integrated production from mine to lithium iron phosphate cathode active material if equity market conditions exist without excessive dilution to existing shareholders.

If not, the company will pursue non-dilutive forms of financing instead.

Under the shelf prospectus, the company may issue and sell up to $20 million of common shares, warrants, subscription receipts, units, debt securities, or any combination thereof, from time to time over 25 months that the shelf prospectus remains effective.