Company: FMST
Filing Date: 2025-08-06
Form Type: F-3
Source: 0001171843-25-005054
Chunk: 67

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-08-06
Form: F-3
Chunk 67
---
 exercise of outstanding options granted under our equity incentive plans at a weighted average exercise price of $5.30 per share; 92,808 common shares issuable upon exercise of outstanding restricted share units granted under our equity incentive plans; |
| • | 1,207,340 common shares reserved for future issuance under our equity incentive plans; and                                                                                                                                                                                                        |
| • | 3,524,647 common shares issuable upon exercise of outstanding share purchase warrants at a weighted average exercise price of $4.27 per share and 59,598 common shares issuable upon exercise of outstanding agent warrants at a weighted average exercise price of $4.19 per share.              |

To the extent that outstanding exercisable options or warrants are exercised or additional restricted stock units vest, you may experience further dilution. In addition, the foregoing table excludes any common shares that may be issued to Denison in the potential concurrent private placements discussed above in “Prospectus Summary – Recent Developments” and the further dilution that would result therefrom.

| S-4 |

### CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Prospectus Supplement and the documents incorporated
by reference herein contain “forward-looking statements” and “forward-looking information” within the meaning
of United States and Canadian securities laws (collectively, “forward-looking statements”). Such forward-looking statements
include, but are not limited to, information with respect to our objectives and our strategies to achieve these objectives, as well as
statements with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. These forward-looking statements
may be identified by the use of terms and phrases such as “may”, “would”, “should”, “could”,
“expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”,
“believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions,
although not all forward-looking statements contain these terms and phrases. Forward-looking statements are provided for the purposes
of assisting the reader in understanding us, our business, operations, prospects and risks at a point in time in the context of historical
and possible future developments and therefore the reader is cautioned that such information may not be appropriate for other purposes.

Forward-looking statements relating to us include,
among other things, statements or assumptions relating to:

| · | our goals and strategies; |

| · | expectations regarding revenue, expenses and operations; |

| · | our having sufficient working capital