Foremost Clean Energy Announces Bought Deal Private Placement of $5.5 Million

Core Viewpoint - Foremost Clean Energy Ltd. has announced a bought deal private placement to raise C$5.5 million through the issuance of 1,618,000 units at C$3.40 per unit, with each unit consisting of one common share and one half of a common share purchase warrant [1][2]. Group 1: Offering Details - The offering consists of 1,618,000 units priced at C$3.40 each, aiming for total gross proceeds of C$5.5 million [1]. - Each unit includes one common share and one half of a warrant, with the full warrant allowing the purchase of one common share at C$4.40 for 24 months [2]. - The underwriter has an option to purchase an additional 242,700 units, potentially raising an extra C$825,180 if fully exercised [4]. Group 2: Shareholder Participation - Denison Mines Corp., the largest shareholder, has the right to participate in the offering, which could increase its ownership to approximately 19.95% post-closing [3]. Group 3: Use of Proceeds - The gross proceeds will be used for Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures on the company's projects in Canada, to be incurred by December 31, 2027 [5]. Group 4: Closing and Regulatory Compliance - The offering is expected to close around April 7, 2026, subject to compliance with Canadian Securities Exchange requirements and necessary approvals from NASDAQ [6]. Group 5: Company Overview - Foremost Clean Energy Ltd. is focused on uranium and lithium exploration, positioned to meet the growing demand for carbon-free energy [8]. - The company holds an option to earn up to 70% interest in 10 uranium properties in the Athabasca Basin, covering over 330,000 acres [9]. - Foremost also has lithium projects across more than 55,000 acres in Manitoba and Quebec, supporting electrification and energy storage [10].