Members of management team and Board of Directors of First Phosphate Corp. entered into an agreement to acquire 5.23% stake in First Phosphate Corp. from Glen Eagle Resources Inc. for CAD 0.59 million.

Members of management team and Board of Directors of First Phosphate Corp. entered into an agreement to acquire 5.23% stake in First Phosphate Corp. (CNSX:PHOS) from Glen Eagle Resources Inc. (TSXV:GER) for CAD 0.59 million on May 10, 2023.

As part of the transaction, Glen Eagle Resources will sell 2.7 million shares out of the 5.4 million it owns to the acquirers. The agreement is subject to customary closing conditions, including obtaining all necessary approvals under the escrow agreement and all applicable securities laws. The transaction is set to close by May 31, 2023.