First Phosphate and Sun Chemical Corporation sign MOU for the Development of a Lithium Iron Phosphate CAM Manufacturing Business in North America
- Written by Reporters
The issuer is solely responsible for the content of this announcement.
About First Phosphate Corp.
First Phosphate 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 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 holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.
About Sun Chemical Corporation
Sun Chemical, a member of the DIC Group, is a leading producer of packaging and graphic solutions, color and display technologies, functional products, electronic materials, and products for the automotive and healthcare industries. Together with DIC, Sun Chemical is continuously working to promote and develop sustainable solutions to exceed customer expectations and better the world around us. With combined annual sales of more than $8.5 billion and 22,000+ employees worldwide, the DIC Group companies support a diverse collection of global customers. Sun Chemical Corporation is a subsidiary of Sun Chemical Group Coöperatief U.A., the Netherlands, and is headquartered in Parsippany, New Jersey, U.S.A. For more information, please visit our website at www.sunchemical.com or connect with us on LinkedIn: https://www.linkedin.com/company/sun-chemical Instagram: https://www.instagram.com/lifeatsunchemicalFor additional information, please contact: Jérôme Cliche, VP, Business Development jerome@firstphosphate.com Tel: +1 (514) 815-8799 Investor Relations: investor@firstphosphate.com Media Relations: media@firstphosphate.com Website: www.FirstPhosphate.comFollow First Phosphate: Twitter: https://twitter.com/FirstPhosphate LinkedIn: https://www.linkedin.com/company/first-phosphateForward-Looking Information and Cautionary Statements Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: First Phosphate's plans to integrate directly into the functions of certain major North American LFP Battery producers; First Phosphate's proposed development of its land claims in the region of Saguenay-Lac-St-Jean, Quebec; First Phosphate's potential development of a LFP CAM manufacturing business in North America; the anticipated benefits, terms, and timelines with respect to the MOU; that the agreement is a significant first step in what First Phosphate expects to be a meaningful ongoing supply relationship with Sun Chemical; that an agreement with SUN would enable First Phosphate to secure a key and often overlooked material from a major local supplier for the future growth of First Phosphate's industrial activities; and potential agreements with governmental and other entities, potential the development of partnerships, relationships, and customers, and the stated benefits thereof. Forward-looking information in this press release are based on certain assumptions and expected future events, namely: First Phosphate's ability to integrate directly into the functions of certain major North American LFP Battery producers; First Phosphate's ability to develop its land claims in the region of Saguenay-Lac-St-Jean, Quebec; First Phosphate ability to carry out its plans for the development of a LFP CAM manufacturing business in North America; First Phosphate having the ability to realize upon the anticipated benefits, terms, and timelines with respect to the MOU; that First Phosphate will have the ability to realize upon the MOU's potential as significant first step in what First Phosphate expects to be a meaningful ongoing supply relationship with Sun Chemical; that an agreement with Sun Chemical will enable First Phosphate to secure a key and often overlooked material from a major local supplier for the future growth of First Phosphate's industrial activities; and First Phosphate possessing the ability to realize upon the potential agreements with governmental and other entities, potential the development of partnerships, relationships and customers, and the stated benefits thereof. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: First Phosphate's inability to integrate directly into the functions of certain major North American LFP Battery producers; First Phosphate's inability to develop its land claims in the region of Saguenay-Lac-St-Jean, Quebec; First Phosphate inability to carry out its plans for the development of a LFP CAM manufacturing business in North America; First Phosphate's inability to realize upon the anticipated benefits, terms, and timelines with respect to the MOU; First Phosphate's inability to realize upon the MOU's potential as significant first step in what First Phosphate expects to be a meaningful ongoing supply relationship with Sun Chemical; and that an agreement with Sun Chemical will not enable First Phosphate to secure a key and often overlooked material from a major local supplier for the future growth of First Phosphate's industrial activities; and First Phosphate's inability to realize upon the potential agreements with governmental and other entities, potential the development of partnerships, relationships, and customers, and the stated benefits thereof. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect First Phosphate's expectations as of the date hereof and are subject to change thereafter. First Phosphate undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Source https://www.media-outreach.com/news/canada/2023/11/29/263909/