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 Announces Court Approval of Spin-Out of Rio Grande Resources