Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 229

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 19
Chunk 229
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 issued is determined on the grant date based on the market price of the common shares on the grant date multiplied by the number of RSUs granted. The fair value is expensed over the vesting term. Upon redemption of the RSU, the carrying amount is recorded as an increase in common share capital and a reduction in the reserve.

During the year endedMarch 31, 2025, the Company granted229,579RSUs to certain directors, officers and consultants of the Company. The total estimated fair value of the RSUs granted was $614,957based on the market value of the Company’s shares at the grant date. The fair value of each RSU is recorded as share-based payments over the vesting period. These RSUs will vest as follows:

  79,317 RSUs vested immediately.  

  48,138 RSUs - 40,276 vest on April 1, 2025 and 7,862 vested immediately upon the resignation of a director.  

  89,674 RSUs vest equally over a three -year period starting on April 1, 2025.  

  5,362 RSUs vest on November 15, 2025.  

  7,088 RSUs vest on April 1, 2025.  

During the year endedMarch 31, 2025, the Company recorded $468,247(2024-$Nil; 2023-$Nil) in share-based payments relating to the portion of the RSUs vesting through the period.

Restricted share unit transactions for the year endedMarch 31, 2025, are summarized as follows:

  Grant Date             Balance March 31, 2024      Granted                                                                    
  February 12, 2025                                                 7,088      -             -            7,088         -       
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  November 15, 2024                                               222,491      ( 82,570      ( 3,008      136,913*      87,179  
                                                                  229,579      ( 82,570      ( 3,008      144,001       87,179  

*51,193exercised subsequently

Warrants:

A continuity of the warrants for the year endedMarch 31, 2025, are summarized as follows:

  Expiry Date                                  Exercise Price                                                                      
  August 24, 2028