Foremost Lithium Resource & Technology .(FMST)

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Foremost Clean Energy and Rio Grande Resources Announce Completion of Spin-Out Transaction
GlobeNewswire· 2025-01-31 13:00
Core Viewpoint - Foremost Clean Energy Ltd. has successfully completed the spin-out of its Winston gold and silver properties to Rio Grande Resources Ltd., allowing both companies to focus on their respective assets and growth opportunities [1][2]. Company Overview - Foremost Clean Energy Ltd. is an emerging North American uranium and lithium exploration company, holding an option to earn up to a 70% interest in 10 uranium properties across over 330,000 acres in the Athabasca Basin, Saskatchewan [8]. - The company also has a portfolio of lithium projects at various stages of development, located across more than 55,000 acres in Manitoba and Quebec [9]. Spin-Out Details - The spin-out was executed through a statutory plan of arrangement, where shareholders of Foremost received one new common share of Foremost and two common shares of Rio Grande for each share held [2]. - The spin-out allows Rio Grande to focus on the Winston Property, which includes past-producing gold and silver mines, at a time when gold prices are nearing US$2,800 per ounce [2]. Shareholder Impact - Following the arrangement, Denison Mines Corp. acquired 3,954,820 Rio Grande Shares, increasing its ownership from 0.0% to 15.31% of Rio Grande's issued shares [5]. - Foremost now holds 19.95% of Rio Grande's issued shares, which it intends to review continuously for potential acquisition or disposal [4]. Listing Information - The listing of Rio Grande Shares on the Canadian Securities Exchange under the symbol 'RGR' is expected to commence on or around February 4, 2025, subject to meeting all listing conditions [3].
Foremost Clean Energy Provides Clarity Around Halt and Effective Date
GlobeNewswire· 2025-01-30 19:57
Core Viewpoint - Foremost Clean Energy Ltd. is clarifying the effective date of its spin-out of gold and silver properties into a new company, Rio Grande Resources Ltd., which is now set for January 31, 2025, instead of January 30, 2025, as previously indicated [1][2]. Group 1: Spin-Out Details - The spin-out will result in shareholders of Foremost receiving one new common share of Foremost and two common shares of Rio Grande for each common share held as of the Surrender Date [4]. - Trading of Foremost Shares was halted due to erroneous information regarding the delisting date, which was initially reported as January 29, 2025 [3]. Group 2: Company Overview - Foremost Clean Energy Ltd. is an emerging North American uranium and lithium exploration company, holding an option to earn up to a 70% interest in 10 uranium properties across over 330,000 acres in the Athabasca Basin, Saskatchewan [5]. - The company also has lithium projects at various development stages located on more than 55,000 acres in Manitoba and Quebec [6].
Foremost Clean Energy Provides Positive Update on Spin-Out of Rio Grande Resources
GlobeNewswire· 2025-01-28 13:00
Core Viewpoint - Foremost Clean Energy Ltd. is executing a spin-out of its gold and silver properties into a new public company, Rio Grande Resources Ltd., effective January 30, 2025, which aims to enhance shareholder value by allowing focused growth in both companies [1][4]. Company Structure and Shareholder Impact - Shareholders of Foremost as of January 29, 2025, will receive one New Foremost Share and two Rio Grande Shares for each Foremost Share held [1]. - The reclassification of Foremost Shares to New Foremost Shares has been applied for approval from the Canadian Securities Exchange (CSE) [2]. - Conditional approval has been received to list Rio Grande Shares on the CSE under the symbol "RGR" [3]. Management Commentary - The President and CEO of Foremost expressed enthusiasm about the spin-out, highlighting its potential to sharpen focus on uranium and lithium assets while independently advancing gold and silver properties through Rio Grande [4]. Shareholder Instructions - Registered shareholders must deposit their original share certificates and complete a Letter of Transmittal to receive the Consideration Shares [4]. - Beneficial shareholders whose shares are registered with intermediaries should contact those intermediaries for instructions on receiving their shares [5]. Warrant Holder Information - Each warrant holder will be entitled to one New Foremost Share and two Rio Grande Shares upon exercise, with no new certificates required [6]. Company Overview - Foremost Clean Energy Ltd. is focused on uranium and lithium exploration, holding options to earn up to a 70% interest in 10 uranium properties in the Athabasca Basin, covering over 330,000 acres [9]. - The company also has lithium projects across more than 55,000 acres in Manitoba and Quebec [10].
Foremost Clean Energy Announces Court Approval of Spin-Out of Rio Grande Resources
GlobeNewswire News Room· 2025-01-13 13:30
Core Viewpoint - Foremost Clean Energy Ltd. is set to spin out its gold and silver properties in New Mexico to shareholders through its subsidiary Rio Grande Resources Ltd., following a Supreme Court approval and overwhelming shareholder support [1][2]. Group 1: Arrangement Details - The proposed plan of arrangement was approved by 99.86% of Foremost shareholders during a meeting on December 20, 2024 [2]. - The arrangement is expected to become effective in January 2025, pending final approval from the Canadian Securities Exchange [2]. - Upon completion, shareholders will receive one new common share of Foremost and two common shares of Rio Grande for each common share of Foremost held [3]. Group 2: Company Overview - Foremost Clean Energy Ltd. is an emerging North American uranium and lithium exploration company, holding options to earn up to a 70% interest in 10 uranium properties across over 330,000 acres in the Athabasca Basin [5]. - The company also has a portfolio of lithium projects at various development stages, located across more than 55,000 acres in Manitoba and Quebec [6].
Foremost Clean Energy Issues Shareholder Letter Highlighting Recent Denison Transaction and Operational Updates
GlobeNewswire News Room· 2024-12-11 13:30
VANCOUVER, British Columbia, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost” or the “Company”), an emerging North American uranium and lithium exploration company, today issued a letter to shareholders from its President and Chief Executive Officer, Jason Barnard. Dear Shareholders, As we end 2024, I wanted to take a moment to reflect on our Company’s achievements over the past year and set out our objectives for the upcoming year and beyond. 2024 has truly ...
Foremost Lithium Resource & Technology .(FMST) - 2024 Q2 - Quarterly Report
2024-12-03 22:00
Exhibit 99.6 As at November 12, 2024 TABLE OF CONTENTS NOTICE OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS 2 INTRODUCTION 1 Glossary of Terms 1 Attendance 1 Date 1 Notice and Access 1 Documents Incorporated by Reference 1 FORWARD-LOOKING INFORMATION 3 TECHNICAL INFORMATION 4 REPORTING CURRENCIES AND ACCOUNTING PRINCIPLES 5 NOTE TO UNITED STATES SECURITYHOLDERS 5 GLOSSARY OF TERMS 6 SUMMARY 7 The Meeting 7 The Arrangement 8 Details of the Arrangement 8 Reasons for the Arrangement 10 Recommendation o ...
Foremost Clean Energy Corrects Red Cloud Contract and Provides Details For Its Plan of Arrangement
GlobeNewswire News Room· 2024-11-20 13:30
All Foremost Shareholders at the December 20, 2024 AGSM Will Be Eligible Pursuant to the Plan of Arrangement to Receive 2 Rio Grande Shares for Every 1 Foremost Share VANCOUVER, British Columbia, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost” or the “Company”), an emerging North American uranium and lithium exploration company, today announces that, further to its news release issued the morning of November 18, 2024, the Company wishes to clarify the terms ...
Foremost Clean Energy Announces Strategic Engagement with Red Cloud Financial Services
GlobeNewswire News Room· 2024-11-18 13:30
VANCOUVER, British Columbia, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost” or the “Company”), an emerging North American uranium and lithium exploration company, is pleased to announce today that it has entered into a strategic agreement (the “Agreement”) with Red Cloud Financial Services Inc. ("RCFS" or "Red Cloud"), an arms-length independent contractor, to provide promotional services, including advice on marketing, communications and social media acti ...
Foremost Clean Energy Provides Update for Rescheduled December AGSM
GlobeNewswire News Room· 2024-11-15 13:30
Shareholders are Encouraged to Vote in Favour of the Arrangement Resolution to Spin-Out the Winston Group of Gold & Silver Properties at the Shareholder Meeting to be now held on December 20, 2024 VANCOUVER, British Columbia, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost” or the “Company”), an emerging North American uranium and lithium exploration company, today announces that it has filed its notice of meeting of shareholders, management information circ ...
Denison to File Early Warning Report in Respect of Foremost Clean Energy Ltd.
Prnewswire· 2024-11-15 11:30
TORONTO, Nov. 15, 2024 /PRNewswire/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML; NYSE American: DNN) congratulates Foremost Clean Energy Ltd. ("Foremost") (NASDAQ:FMST) (CSE:FAT) on the completion of its $10,500,250 private placement of units on November 14, 2024 (the "Offering"). The Offering provides Foremost with significant funding to support its objective of exploring a portfolio of Saskatchewan uranium exploration properties pursuant to an option agreement entered into with Denison o ...