Foremost Clean Energy to Issue Shares to Denison Mines Corp. Under Investor Rights Agreement and Strengthen its Treasury by Over $1 Million

Core Viewpoint - Foremost Clean Energy Ltd. announces a private placement with Denison Mines Corp., which will result in Denison acquiring approximately 19.17% of Foremost's common shares outstanding, strengthening the company's financial position for exploration activities in the Athabasca Basin [1][2][3]. Group 1: Private Placement Details - Denison will subscribe for 485,000 common shares at a price of $2.20 per share, totaling $1,067,000 [2]. - The issuance of shares is in accordance with the Amended & Restated Investor Rights Agreement and has been approved by the Canadian Securities Exchange [2]. - The shares issued will be subject to a hold period of four months and one day from the date of issuance [2]. Group 2: Company Strategy and Focus - The proceeds from the private placement will be utilized to advance exploration for the company's 330,000 acres uranium portfolio in the Athabasca Basin and for general corporate purposes [3]. - The company aims to make significant discoveries through systematic exploration programs in collaboration with Denison [5]. - Foremost Clean Energy holds an option to earn up to a 70% interest in 10 uranium properties in the Athabasca Basin, which is known for its uranium richness [5]. Group 3: Company Overview - Foremost Clean Energy Ltd. is a growing North American uranium and lithium exploration company [5]. - The company also has a portfolio of lithium projects across over 55,000 acres in Manitoba and Quebec [6]. - The demand for domestically mined uranium and lithium is expected to grow as the need for carbon-free energy increases [5].