Company: FMST
Filing Date: 2025-06-20
Form Type: POS AM
Source: 0001171843-25-004006
Chunk: 17

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: POS AM
Chunk 17
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 If a foreign judgment originates from a jurisdiction
not captured by the applicable provincial or territorial reciprocal enforcement of judgments or enforcement of foreign judgments legislation,
the foreign judgment may be capable of enforcement at common law and the party seeking to enforce the foreign judgment must commence new
proceedings in the domestic or enforcing court. For more information regarding the relevant laws of Canada, see “Enforceability of Civil Liabilities.”

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Holders of Common Share Purchase Warrants purchased in this offering will have no rights as common shareholders until such holders exercise their Pre-Funded Warrants or Common Share Purchase Warrants and acquire our common shares.

Until holders of Common Share Purchase Warrants acquire
our common shares upon exercise thereof, such holders will have no rights with respect to our common shares underlying the Pre-Funded
Warrants and Common Share Purchase Warrants. Upon exercise of the Pre-Funded Warrants or Common Share Purchase Warrants, the holders will
be entitled to exercise the rights of a common shareholder only as to matters for which the record date occurs after the exercise date.

The Common Share Purchase Warrants are speculative in nature.

The Common Share Purchase Warrants do not confer
any rights of common share ownership on its holders, such as voting rights or the right to receive dividends, but rather merely represent
the right to acquire common shares at a fixed price for a limited period of time. Following this offering, the market value of the Common
Share Purchase Warrants, if any, is uncertain and there can be no assurance that the market value of the Common Share Purchase Warrants
will equal or exceed their imputed offering price.

Our current structure may impact legal enforceability and make your ability to effect service of process more difficult.

We are a corporation existing under the laws of the
Province of British Columbia therefore, no key directors or executive officers are residents of the United States. As a result, it may
be difficult for you to effect service of process upon such persons to enforce against them judgments predicated upon civil liabilities
provisions of the federal securities laws. It also may be difficult for you to enforce civil liabilities predicated upon such securities
law in the actions brought in courts in jurisdictions outside of the United States.

If the Company were to constitute a “passive foreign investment company” or “PFIC” for its current tax year, adverse U.S. federal income tax consequences may result for U.S. investors

The Company believes that it was not a PFIC for its
most recently completed tax