Company: FMST
Filing Date: 2025-02-28
Form Type: 424B3
Source: 0001171843-25-001157
Chunk: 21

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-02-28
Form: 424B3
Chunk 21
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 the nine-month period ended December 31, 2024,the Company:

| a) | granted stock options for 36,000 shares to a consultant of the Company. The options are exercisable at $3.91 (USD $2.84) per share until  July 23, 2029 with an estimated fair value of $112,200 and vested immediately. |

| b) | had 72,500 stock options that were cancelled and/or forfeited, resulting in an allocation of share-based reserves of $344,467 to deficit. |

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FOREMOST CLEAN ENERGY LTD.

(FORMERLY FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD.)

Notes to the Condensed Interim Consolidated Financial Statements

December 31, 2024

(Expressed in Canadian Dollars)

(Unaudited – Prepared by Management)

| 7. | CAPITAL STOCK AND RESERVES (Continued) |

Stock options (Continued):

| c) | granted stock options for 83,194 shares to director and officers of the Company. The options are exercisable at $2.76 per share until  April 1, 2029 with an estimated fair value of $167,600. |

| ● | 51,323 stock options vested immediately. |

| ● | 31,871 stock options vest equally over a three-year period. |

| ● | During the three-month and nine-month period ended  December 31, 2024, the Company recorded share-based compensation of $113,676 for the vested portion of the stock options. |

| d) | granted stock options for 55,000 shares to consultants of the Company. The options are exercisable at $2.76 per share until  November 15, 2027 with an estimated fair value of $91,100 and vest immediately. |

| e) | granted stock options for 36,815 shares to a director, an officer and consultants of the Company. The options are exercisable at $2.76 per share until  November 15, 2029 with an estimated fair value of $77,400 and vested immediately. |

During the three-month and nine-month periods ended December 31, 2024,the Company recorded $ (three-month period ended December 31, 2023 -$) and $ (nine-month period ended December 31, 2023 -$) as share-based compensation for stock options.

Stock option transactions for