Company: FMST
Filing Date: 2025-07-28
Form Type: DRS
Source: 0001171843-25-004725
Chunk: 33

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-28
Form: DRS
Chunk 33
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 series of Debt Securities may
be convertible into or exchangeable for Common Shares or other of our securities will be described in the applicable Prospectus Supplement.
These terms may include provisions as to whether conversion or exchange is mandatory, at the option of the holder or at our option, and
may include provisions pursuant to which the number of Common Shares or other securities to be received by the holders of such series
of Debt Securities would be subject to adjustment.

To the extent any Debt Securities are convertible
into Common Shares or other of our securities, prior to such conversion the holders of such Debt Securities will not have any of the rights
of holders of the securities into which the Debt Securities are convertible, including the right to receive payments of dividends or the
right to vote such underlying securities.

We may, from time to time, issue debt securities and
incur additional indebtedness other than through the issue of debt securities pursuant to this Prospectus.

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### TRADING
Our Common Shares are listed for trading on Nasdaq
under the stock symbol “FMST” and listed for trading on the CSE under the stock symbol “FAT”.

Certain of our warrants are listed and posted for
trading on Nasdaq under the symbol “FMSTW”.

### DILUTION
Purchasers of Securities in an offering may suffer
immediate and substantial dilution in the net tangible book value per share of Common Shares. Dilution in net tangible book value per
share represents the difference between the amount per Share paid by purchasers in an offering and the net tangible book value per share
of Common Shares immediately after an offering.

### EXPENSES OF ISSUANCE AND DISTRIBUTION
The following is a statement of the expenses (all
of which are estimated), other than any underwriting discounts and commissions and expenses reimbursed by us, if any, to be incurred in
connection with a distribution of Securities under the offering.

| SEC registration fees            | * |
| Printing expenses                | * |
| Legal fees and expenses          | * |
| Accountants’ fees and expenses   | * |
| Transfer agent fees and expenses | * |
| Miscellaneous                    | * |
| Total                            | * |

* These fees cannot be estimated at this time as they
are calculated based on the Securities offered and the number of issuances. An estimate of the aggregate expenses in connection with the
sale and distribution of Securities will be included in the applicable Prospectus Supplement or as an exhibit to a Report on Form 6-K
that