Company: FMST
Filing Date: 2025-07-08
Form Type: POS AM
Source: 0001171843-25-004344
Chunk: 19

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-08
Form: POS AM
Chunk 19
---
45,666,733 |
| Reserves       |         3,280,933 |
| Deficit        |       -24,455,404 |
| Total          
 equity         |        24,492,262 |
| TOTAL          
 CAPITALIZATION |        27,741,039 |

<div align='center'>18</div>

### USE
OF PROCEEDS

After deducting the estimated underwriters’ discounts and offering expenses payable by us, we received net proceeds of approximately US$2.8 million from this offering, based on a public offering price of US$5.00 per Common Share Unit set forth on the cover page of this prospectus.

We planned to use the net proceeds of this offering as follows:

| • | 82.4% of the net proceeds (approximately US$2.225 million) for resource      
 development activities such as drilling and soil sampling on our properties; |

| • | 4.0% of the net proceeds (approximately US$0.108 million) for annual property 
 payments, claim payments and royalty payments;                                |

| • | 5.7% of the net proceeds (approximately US$0.154 million) for general corporate                                                           
 purposes such as salaries, consultant and director fees, accountants, transfer agents, public company fees, audit fees, travel, or other. |

| • | 7.9% of the net proceeds (approximately US$0.213 million) for general business                                                           
 expenses. This would include items such as environmental, sustainability and governance (ESG) initiatives, and marketing and promotional 
 efforts.                                                                                                                                 |

### UNDERWRITING
ThinkEquity LLC is the representative
for the several underwriters of this offering, or the representative. We entered into an underwriting agreement with the underwriters
named below. Subject to the terms and conditions of the underwriting agreement, we sold to the underwriters, at the public offering price
less the underwriting discounts set forth on the cover page of this prospectus, the number of Common Share Units at the public offering
price, less the underwriting discounts, as set forth on the cover page of this prospectus and as listed next to its name in the following
table:

| Underwriter     |     | Number of Common Share Units |         |
| ThinkEquity LLC |     |                              | 800,000 |
| Total           |     |                              | 800,000 |

<div align='center'>19</div>

We have agreed to