Company: FMST
Filing Date: 2025-02-28
Form Type: 424B3
Source: 0001171843-25-001157
Chunk: 69

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-02-28
Form: 424B3
Chunk 69
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 was $1,145,895 compared to $1,308,060 during the nine-month period ended December 31, 2023, and consisted of $249,319 (2023 - $222,211) in net expenditures on exploration and evaluation assets.

Net cash provided by financing activities for the nine-month period ended December 31, 2024 was $10,496,192 compared to $4,991,992 during nine-month period ended December 31, 2023. The net increase was due to share issuances for gross proceeds of $11,850,379 (2023 - $5,418,400), offset by share issuance costs of $675,557 (2023 - $387,416), loan principal and interest payments of $678,630 (2023 - $134,579), and repayment of lease obligations of $Nil (2023 - $35,813).

CONTRACTUAL OBLIGATIONS

Other than described in “Capital Resources” and certain stock option and consulting agreements, the Company does not presently have any other material contractual obligations. See “Transactions with Related Parties”.

OFF-BALANCE SHEET ARRANGEMENTS

The Company does not utilize off-balance sheet arrangements.

RELATED PARTY TRANSACTIONS

Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. The Company has determined that key management personnel consist of executive and non-executive members of the Company’s Board of Directors and corporate officers and companies controlled by them. The remuneration that was paid or accrued to the directors and other members of key management personnel during the nine-month periods ended December 31, 2024 and 2023 was as follows:

| Period ended December 31, 2024:                     |     | Management 
 and        
 Directors  
 fees       |         |     | Consulting   
 and Investor 
 Relations    
 fees         |         |     | Share-based 
 payments    |         |     | Total |           |
|:----------------------------------------------------|:----|:-----------|--------:|:----|:-------------|--------:|:----|:------------|--------:|:----|:------|----------:|
| Chief Executive Officer                             |     | $          | 225,000 |     | $            |       - |     | $           |  45,684 |     | $     |   270,684 |
| Chief Operating Officer                             |     |            | 187,506 |