Company: FMST
Filing Date: 2025-07-08
Form Type: POS AM
Source: 0001171843-25-004344
Chunk: 20

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-08
Form: POS AM
Chunk 20
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 indemnify the underwriters against
specified liabilities, including liabilities under the Securities Act, and to contribute to payments the underwriters may be required
to make in respect thereof.

We have granted the underwriters an over-allotment
option. This option, which is exercisable for up to 45 days after the date of the closing of this offering, permits the underwriters to
purchase up to an aggregate of 120,000 Common Share Units and/or Pre-Funded Warrant Units, representing 15% of the Units sold in this
offering. The over-allotment option purchase price to be paid per additional Common Share Unit and/or Pre-Funded Warrant Unit by the underwriter
shall be equal to the public offering price of one Common Share Unit and/or one Pre-Funded Warrant Unit, as applicable, less underwriting
discount. The underwriters did not exercise their over-allotment option which has expired.

Discounts and Reimbursement

The underwriters offered the Common Share Units to
the public at the public offering price per Common Share Unit set forth on the cover page of this prospectus.

The following table summarizes the underwriting discounts,
non-accountable underwriters’ expense allowance and proceeds, before expenses, to us:

|                                        |     | Per Common Share Unit |        |     | Offering without Over-Allotment 
 Option                          |           |     | Offering                 
 with                     
 Over-Allotment Option(1) |           |
| Public offering price                  |     | US$                   |   5.00 |     | US$                             | 4,000,000 |     | US$                      | 4,600,000 |
| Underwriting discounts (7.15%)         |     | US$                   | 0.3575 |     | US$                             |   286,000 |     | US$                      |   328,900 |
| Non-accountable expense allowance (1%) |     | US$                   |   0.05 |     | US$                             |    40,000 |     | US$                      |    40,000 |
| Proceeds, before expenses, to us       |     | US$                   | 4.5925 |     | US$                             | 3,674,000 |     | US$                      | 4,231,100 |

We have also agreed to pay certain of the representative’s
expenses relating to the offering, including background checks of our directors and