Company: FMST
Filing Date: 2025-02-28
Form Type: 424B3
Source: 0001171843-25-001157
Chunk: 68

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-02-28
Form: 424B3
Chunk 68
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682 common shares at a value of $1,511,171 for finder’s and advisory fees for the acquisition of Athabasca Property. |

| f) | closed a non-brokered private placement issuing 1,473,000 units consisting of one common share and one common share purchase warrant at $3.00 per unit for gross proceeds of $4,419,000. The Company also issued 1,022,500 flow-through units for $3.50 per unit for gross proceeds of $3,578,750 and 550,000 charitable flow-through units for $4.55 per unit for gross proceeds of $2,502,500. Each Warrant shall entitle the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of $4.00 until November 14, 2026. Each flow-through unit and charity flow-through unit consists of one common share of the Company to be issued as a flow-through share. The Company paid a cash finder’s fees of $570,015 on the financing and issued 162,730 non-transferable finder’s warrants. Each finder’s warrant exercisable for one common share of the Company at a price of $3.00 per common share until November 14, 2026. |

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Foremost Clean Energy Ltd. (Formerly, Foremost Lithium Resource & Technology Ltd.)
Management Discussions and Analysis
Period Ended December 31, 2024

Net cash used in operating activities for the nine-month period ended December 31, 2024 was $3,972,599 compared to cash used of $2,805,372 during the nine-month period ended December 31, 2023. The net decrease of $1,167,227 in cash used in operating activities was primarily due to the increase in net loss for the period, as discussed above, partly offset by a net increase of $84,661 in non-cash working capital items such as Receivables, Prepaids and Accounts payable, compared to a net decrease of $418,770 for the comparable period. In addition, there was a net decrease of $336,680 in non-cash items in profit and loss, compared to a net increase of $572,167 for the comparable period, in the net loss for the nine-month period ended December 31, 2024.

Net cash used in investing activities for the nine-month period ended December 31, 2024