Company: FMST
Filing Date: 2025-08-06
Form Type: F-3
Source: 0001171843-25-005054
Chunk: 5

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-08-06
Form: F-3
Chunk 5
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 Securities and the extent of issuer regulation. See the section titled “Risk Factors”.

Our principal place of business is located at 750
West Pender Street, Suite 250 Vancouver, British Columbia V7Y 1K3.

Our Common Shares are listed for trading on the Nasdaq
Capital Market (“Nasdaq”) under the stock symbol “FMST” and listed for trading on the Canadian Securities
Exchange (the “CSE”) under the stock symbol “FAT”. Certain of our warrants are trading on Nasdaq under
the trading symbol “FMSTW”.

Pursuant to General Instruction I.B.5 of Form F-3,
in no event will we sell securities registered on this registration statement in a public primary offering with a value exceeding more
than one-third of our public float (i.e., the market value of our Common Shares held by non-affiliates) in any 12-month period so long
as our public float remains below $75.0 million. As of the date of this Prospectus, the aggregate market value of our Common Shares
held by non-affiliates, as calculated pursuant to the rules of the U.S. Securities and Exchange Commission (the “SEC”),
was $66,023,589.08, which was calculated based on 12,181,474 outstanding Common Shares held by non-affiliates as of July 30, 2025 date
at a price of $5.42 per Common Share on June 5, 2025, which was the highest closing sale price of our Common Shares on Nasdaq within 60 days
of the filing date of this registration statement. Pursuant to General Instruction I.B.5 of Form F-3, in no event will we sell, pursuant
to this registration statement of which this prospectus forms a part, securities with a value exceeding one-third of the aggregate market
value of our outstanding Ordinary Shares held by non-affiliates in any 12-month period, so long as the aggregate market value of our common
shares held by non-affiliates is less than $75.0 million We have not offered any securities pursuant to General Instruction I.B.5 of Form F-3
during the prior 12 calendar month period that ends on and includes the date of this Prospectus.

We have prepared this Prospectus
in accordance with United States disclosure requirements. Our financial statements are prepared in accordance with International Financial
Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) and