Company: FMST
Filing Date: 2025-07-28
Form Type: DRS
Source: 0001171843-25-004725
Chunk: 17

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-28
Form: DRS
Chunk 17
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 experience future dilution
as a result of future equity offerings.

In order to raise additional capital, we may in the
future offer additional Common Shares or other securities convertible into or exchangeable for Common Shares at prices that may not be
the same as the price per share paid by any investor in an offering in a subsequent Prospectus Supplement. We may sell shares or other
securities in any other offering at a price per share that is less than the price per share or other security paid by any investor in
an offering in a subsequent Prospectus Supplement, and investors purchasing shares or other securities in the future could have rights
superior to you. The price per share at which we sell additional Common Shares or securities convertible or exchangeable into Common Shares,
in future transactions may be higher or lower than the price per share paid by any investor in an offering under a subsequent Prospectus
Supplement.

Future offerings of debt or preferred
equity securities, which would rank senior to our Common Shares, may adversely affect the market price of our Common Shares.

If, in the future, we decide to issue debt or preferred
equity securities that may rank senior to our Common Shares, it is likely that such securities will be governed by an indenture or other
instrument containing covenants restricting our operating flexibility. Any convertible or exchangeable securities that we issue in the
future may have rights, preferences and privileges more favorable than those of our Common Shares and may result in dilution to owners
of our Common Shares. We and, indirectly, our shareholders, will bear the cost of issuing and servicing such securities. Because our decision
to issue debt or equity securities in any future offering will depend on market conditions and other factors beyond our control, we cannot
predict or estimate the amount, timing or nature of our future offerings. Thus, holders of our Common Shares will bear the risk of our
future offerings reducing the market price of our Common Shares and diluting the value of their stock holdings in us.

There can be no assurance as to
the liquidity of the trading market for certain Securities or that a trading market for certain Securities will develop.

There is no public market for the Warrants, Preferred
Shares, Subscription Receipts or Debt Securities and, unless otherwise specified in the applicable Prospectus Supplement, we do not intend
to apply for listing of these securities on any securities exchange. If these securities are traded after their initial issue, they may
trade at a discount from their initial offering prices depending on the market for similar securities,