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InvestorNewsBreaks - Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) Announces Shareholder Meeting and Plan for Strategic Spin-Out Amid Postal Strike

2024-12-02

TSXV - TSX Venture Exchange · Uranium · Copper · Helium · Hydrogen · Canada · M&A / Asset Transactions

InvestorNewsBreaks – Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) Announces Shareholder Meeting and Plan for Strategic Spin-Out Amid Postal Strike

Foremost Clean Energy (NASDAQ: FMST) (CSE: FAT)has distributed materials for its Dec. 20, 2024, shareholder meeting, where a vote will take place on a plan of arrangement to spin out its Winston Group of Gold and Silver Properties to Rio Grande Resources Ltd. Due to a national postal strike in Canada, meeting materials were couriered to registered shareholders and select non-registered shareholders holding 10,000 or more shares, while others can request digital copies or vote online. Shareholders will exchange their Foremost shares for one new Foremost share and two Rio Grande shares, with Foremost retaining a 19.95% stake in Rio Grande. Completion of the spin-out depends on listing Rio Grande shares on a stock exchange and other conditions. Meeting materials are available online via SEDAR+ and the company’s website.

To view the full press release, visit https://ibn.fm/8KBvW

About Foremost Clean Energy Ltd.

Foremost Clean Energy, assuming the effectiveness of the transaction, will be an emerging North American uranium exploration company with interests in 10 prospective properties spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin. As global demand for decarbonization accelerates, the need for nuclear power is crucial. Foremost expects to be positioned to capitalize on the growing demand for uranium through discovery in a top jurisdiction with the objective to support the world’s energy-transition goals. Alongside its exploration partner Denison, Foremost will be committed to a strategic and disciplined exploration strategy to identify resources by testing drill–ready targets with identified mineralization along strike of recent major discoveries. Foremost also maintains a secondary portfolio of significant lithium projects at different stages of development spanning over 50,000 acres across Manitoba and Quebec. For more information about the company, visitwww.ForemostCleanEnergy.com.

NOTE TO INVESTORS:The latest news and updates relating to FMST are available in the company’s newsroom athttp://ibn.fm/FMST

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