Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 0

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 3
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ITEM 3. KEY INFORMATION

3. A. [Reserved]

3. B. Capitalization and Indebtedness

Not applicable.

3. C. Reasons for the Offer and Use of Proceeds

Not applicable.

3. D. Risk Factors

You should carefully consider all of the information in this report, including various changing regulatory, competitive, economic, political and social risks and conditions described below, before making an investment in our common shares. One or more of a combination of these risks could materially impact our business, results of operations and financial condition. In any such case, the market price of our common shares could decline, and you may lose all or part of your investment.

Risks Related to Our Business and Industry

If we do not make the required option payments and property expenditure requirements mandated in our option agreements we will lose our interests in our properties and our business may fail.

If we do not make all of the property payments under the terms of our option agreements or incur the required expenditures in accordance with our option agreements we will lose our option to acquire our properties and may not be able to continue to execute our business objectives if we are unable to find an alternate exploration interest. Since our payment obligations are non-refundable, if we do not make any payments, we will lose any payments previously made and all our rights to our properties.

We have a limited operating history and have not yet generated any revenues.

Our limited operating history makes evaluating our business and prospects difficult and may increase the risk of your investment. We were formed in 2005 and have not yet begun commercial mining of uranium or lithium. To date, we have no revenues and are in the exploration stage of development with the potential to establish commercial operations still unknown. We intend to proceed with the development of the Athabasca Uranium Properties (as defined below) and our Lithium Lane Properties (as defined below) through continued exploration, economic and technical studies such as preliminary economic assessments and preliminary feasibility studies and, provided the results are positive, through to a feasibility study and mine development.

The exploration activities of the Company may require substantial additional financing.

Our exploration activities may require substantial additional financing. Failure to obtain sufficient financing may result in delaying or indefinite postponement of exploration and development of any of our properties. There can be no assurance that additional capital or other types of financing will be available if needed or that, if available, the terms of such financings will be favourable to us. In addition, low commodity prices may affect our ability to obtain financing. The