Company: FMST
Filing Date: 2025-08-06
Form Type: F-3
Source: 0001171843-25-005054
Chunk: 29

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-08-06
Form: F-3
Chunk 29
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 Agent will release a portion of the Escrowed Funds to such underwriters or agents in payment of all or a portion of their 
 fees or commissions in connection with the sale of the Subscription Receipts;                                                              |

| · | procedures for the refund by the Escrow Agent to holders of Subscription Receipts of all or a portion                                  
 of the subscription price of their Subscription Receipts, plus any pro rata entitlement to interest earned or income generated on such 
 amount, if the Release Conditions are not satisfied;                                                                                   |

| · | any contractual right of rescission to be granted to initial purchasers of Subscription Receipts in the                               
 event that this Prospectus, the Prospectus Supplement under which Subscription Receipts are issued or any amendment hereto or thereto 
 contains a misrepresentation;                                                                                                         |

| · | any entitlement of us to purchase the Subscription Receipts in the open market by private agreement or 
 otherwise;                                                                                             |

| · | whether we will issue the Subscription Receipts as global securities and, if so, the identity of the depository 
 for the global securities;                                                                                      |

| · | whether we will issue the Subscription Receipts as bearer securities, as registered securities or both; |

| · | provisions as to modification, amendment or variation of the Subscription Receipt Agreement or any rights                                 
 or terms of the Subscription Receipts, including upon any subdivision, consolidation, reclassification or other material change of the    
 Equity Securities, Debt Securities, Warrants or other of our securities, any other reorganization, amalgamation, merger or sale of all    
 or substantially all of our assets or any distribution of property or rights to all or substantially all of the holders of Common Shares; |

| · | whether we will apply to list the Subscription Receipts on a securities exchange or automated interdealer 
 quotation system;                                                                                         |

| · | material Canadian and United States federal income tax consequences of owning the Subscription Receipts; 
 and                                                                                                      |

| · | any other material terms or conditions of the Subscription Receipts. |

| 14 |

**Rights of Holders of Subscription Receipts Prior to Satisfaction of Release
Conditions**

The holders of Subscription Receipts will not be,
and will not have the rights of, our shareholders. Holders of Subscription Receipts are entitled only to receive Equity Securities, Debt
Securities, Warrants, Units or any combination thereof on exchange of their Subscription Receipts, plus any cash payments, all as provided
for under the Subscription Receipt Agreement and only once the Release Conditions have been