Foremost Clean Energy Announces Approval of the Winston Gold and Silver Spin-Out and Additional Results from AGSM

Core Points - Foremost Clean Energy Ltd. has announced a plan of arrangement to spin out its gold and silver properties located in Sierra County, New Mexico, to shareholders through Rio Grande Resources Ltd. [7] - Shareholders will receive two common shares of Rio Grande for each common share of Foremost they hold, with the arrangement expected to close around January 10, 2025, pending necessary approvals [2][9] - The arrangement has been overwhelmingly approved by shareholders, with 99.86% voting in favor at the annual general and special meeting [1][8] Company Structure and Leadership - Following the arrangement, shareholders will hold shares in two public companies: Foremost, focused on uranium and lithium exploration, and Rio Grande, which will develop the Winston Property [3] - Amanda Willett has been appointed as the newest independent director of Foremost, bringing extensive experience in corporate governance and the mining sector [5][10] - The board of directors has been set at six members, with Jason Barnard confirmed as President and CEO, and Douglas L. Mason as Chairman [11] Trading and Regulatory Information - Foremost shares will continue trading on the Canadian Securities Exchange (CSE) under the symbol FAT and on NASDAQ under FMST, while Rio Shares will commence trading on the CSE [3] - Rio Grande will become a reporting issuer in British Columbia, Alberta, and Ontario, with the British Columbia Securities Commission as its principal regulator [3] 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 [14] - The company also has a portfolio of lithium projects located across more than 55,000 acres in Manitoba and Quebec, aimed at supporting the growing demand for carbon-free energy [15]