First Phosphate Files Form 15F to Voluntarily Terminate SEC Reporting Obligations
First Phosphate has voluntarily filed Form 15F with the SEC to terminate its registration and reporting obligations under the Exchange Act. The company's shares will continue trading uninterrupted on the Canadian Securities Exchange, OTCQB, and Frankfurt Stock Exchange.
The deregistration follows the company's SEC registration in April 2024, which addressed a legacy reporting situation predating current management. With the legacy matter now resolved, management has determined SEC registration is no longer necessary for near-term operations. This strategic move aims to reduce financial reporting complexity and administrative costs.
The company will maintain its Canadian continuous disclosure obligations through filings with Canadian securities regulators, available on SEDAR. The SEC reporting obligations are immediately suspended and expected to fully terminate 90 days after filing.
First Phosphate ha presentato volontariamente il Modulo 15F alla SEC per terminare le sue obbligazioni di registrazione e rendicontazione ai sensi dell'Exchange Act. Le azioni della società continueranno a essere negoziate senza interruzioni sulla Canadian Securities Exchange, OTCQB e Frankfurt Stock Exchange.
La cancellazione dalla registrazione segue la registrazione della società alla SEC nell'aprile 2024, che ha risolto una situazione di rendicontazione preesistente alla gestione attuale. Con la questione storica ora risolta, la direzione ha stabilito che la registrazione alla SEC non è più necessaria per le operazioni a breve termine. Questa mossa strategica mira a ridurre la complessità della rendicontazione finanziaria e i costi amministrativi.
La società manterrà gli obblighi di divulgazione continua in Canada tramite presentazioni agli enti regolatori canadesi, disponibili su SEDAR. Gli obblighi di rendicontazione alla SEC sono immediatamente sospesi e si prevede la loro completa cessazione 90 giorni dopo la presentazione.
First Phosphate ha presentado voluntariamente el Formulario 15F ante la SEC para terminar sus obligaciones de registro e informes bajo la Exchange Act. Las acciones de la compañía continuarán cotizando sin interrupciones en la Canadian Securities Exchange, OTCQB y la Bolsa de Frankfurt.
La baja de registro sigue a la inscripción de la compañía en la SEC en abril de 2024, que resolvió una situación histórica de informes previa a la gestión actual. Con este asunto histórico resuelto, la dirección ha determinado que el registro en la SEC ya no es necesario para las operaciones a corto plazo. Esta medida estratégica busca reducir la complejidad en los informes financieros y los costos administrativos.
La compañía mantendrá sus obligaciones de divulgación continua en Canadá mediante presentaciones a los reguladores canadienses, disponibles en SEDAR. Las obligaciones de reporte ante la SEC se suspenden de inmediato y se espera su terminación completa 90 días después de la presentación.
First Phosphate는 자발적으로 SEC에 Form 15F를 제출하여 Exchange Act에 따른 등록 및 보고 의무를 종료하기로 했습니다. 회사의 주식은 Canadian Securities Exchange, OTCQB, 프랑크푸르트 증권거래소에서 계속 중단 없이 거래됩니다.
이번 등록 취소는 2024년 4월 회사가 SEC에 등록한 이후의 조치로, 이는 현재 경영진 이전의 과거 보고 문제를 해결한 것입니다. 해당 과거 문제가 해결됨에 따라 경영진은 단기 운영에 SEC 등록이 더 이상 필요하지 않다고 판단했습니다. 이 전략적 결정은 재무 보고의 복잡성과 관리 비용을 줄이기 위한 것입니다.
회사는 SEDAR에서 확인할 수 있는 캐나다 증권 규제 기관에 제출하는 문서를 통해 캐나다 내 지속적인 공시 의무를 유지할 것입니다. SEC 보고 의무는 즉시 중단되며 제출 후 90일 이내에 완전히 종료될 예정입니다.
First Phosphate a volontairement déposé le formulaire 15F auprès de la SEC afin de mettre fin à ses obligations d'enregistrement et de reporting en vertu de l'Exchange Act. Les actions de la société continueront d'être négociées sans interruption sur la Canadian Securities Exchange, le OTCQB et la Bourse de Francfort.
Cette radiation fait suite à l'enregistrement de la société auprès de la SEC en avril 2024, qui a permis de résoudre une situation de reporting héritée d'avant la direction actuelle. Avec cette question réglée, la direction a estimé que l'enregistrement auprès de la SEC n'était plus nécessaire pour les opérations à court terme. Cette décision stratégique vise à réduire la complexité des rapports financiers et les coûts administratifs.
La société continuera de respecter ses obligations de divulgation continue au Canada via des dépôts auprès des régulateurs canadiens, accessibles sur SEDAR. Les obligations de reporting auprès de la SEC sont immédiatement suspendues et devraient être totalement terminées 90 jours après le dépôt.
First Phosphate hat freiwillig das Formular 15F bei der SEC eingereicht, um seine Registrierungs- und Berichtspflichten gemäß dem Exchange Act zu beenden. Die Aktien des Unternehmens werden weiterhin ohne Unterbrechung an der Canadian Securities Exchange, OTCQB und der Frankfurter Wertpapierbörse gehandelt.
Die Abmeldung folgt auf die Registrierung des Unternehmens bei der SEC im April 2024, die eine ältere Berichtspflicht vor der aktuellen Geschäftsführung regelte. Da diese Altlast nun geklärt ist, hat das Management entschieden, dass eine SEC-Registrierung für die kurzfristigen Geschäfte nicht mehr erforderlich ist. Dieser strategische Schritt zielt darauf ab, die Komplexität der Finanzberichterstattung und die Verwaltungskosten zu reduzieren.
Das Unternehmen wird seine kontinuierlichen Offenlegungspflichten in Kanada durch Einreichungen bei den kanadischen Wertpapieraufsichtsbehörden erfüllen, die auf SEDAR einsehbar sind. Die Berichtspflichten bei der SEC sind sofort ausgesetzt und werden voraussichtlich 90 Tage nach Einreichung vollständig beendet.
- Continuous trading on CSE, OTCQB, and Frankfurt Stock Exchange ensures uninterrupted market access
- Successful resolution of legacy SEC reporting situation
- Expected reduction in financial reporting complexity and administrative costs
- Voluntary termination of SEC registration may reduce visibility to US investors
- Loss of SEC-registered status could impact future US capital raising opportunities
Saguenay, Quebec--(Newsfile Corp. - April 30, 2025) - First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") announces that it has voluntarily filed a Form 15F with the United States Securities and Exchange Commission (the "SEC") today for the purpose of terminating the registration of its common shares and its reporting obligations under the Securities Exchange Act of 1934 (the "Exchange Act").
Trading of the Company common shares will be uninterrupted by the deregistration, including as they are currently traded in the United States, with the Company's common shares continuing to trade on the Canadian Securities Exchange, the OTCQB and the Frankfurt Stock Exchange.
The Company will continue to comply with its Canadian continuous disclosure obligations by continuing to make filings with the applicable Canadian securities regulators. Such filings will continue to be available under the Company's issuer profile on SEDAR at www.sedarplus.ca. As a result of filing the Form 15F, the Company's obligations to file reports under the Exchange Act have been immediately suspended and are expected to terminate 90 days after today.
The Company registered with the SEC in April 2024 to address a legacy SEC reporting situation originating prior to the appointment of the Company's current management and the commencement of its current operations. Having successfully resolved the legacy matter to the satisfaction of the SEC, Company management have determined that the SEC registration is no longer required for its near-term operations, and that deregistration is desirable to reduce financial reporting complexity and administrative costs.
About First Phosphate Corp.
First Phosphate (CSE: PHOS) (OTCQB: 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 a 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 is owner and developer of the Bégin-Lamarche Property in Saguenay-Lac-St-Jean, Quebec, Canada that consists of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of harmful concentrations of deleterious elements.
For additional information, please contact:
Bennett Kurtz
Chief Financial Officer
bennett@firstphosphate.com
Tel: +1 (416) 200-0657
Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com
Follow First Phosphate:
Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate
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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; and the Company's plans for vertical integration into North American supply chains.
These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company's public disclosure record including the short form base prospectus dated June 5, 2024.
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. 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 Management Discussion and Analysis dated January 29, 2025 and Annual Report on 20-F dated July 8, 2024, which are available on SEDAR at www.sedarplus.ca. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249962
FAQ
Why did First Phosphate (FRSPF) file Form 15F in April 2025?
Will First Phosphate stock (FRSPF) continue trading after Form 15F filing?
How long will First Phosphate's Form 15F deregistration process take?
Where can investors find First Phosphate financial reports after SEC deregistration?
What prompted First Phosphate's SEC deregistration in 2025?
