Company: FMST
Filing Date: 2025-08-06
Form Type: F-3
Source: 0001171843-25-005054
Chunk: 69

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-08-06
Form: F-3
Chunk 69
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 emerging growth companies. We will continue
to qualify as an “emerging growth company” until the earliest to occur of: (a) the last day of the fiscal year during
which we had total annual gross revenues of US$1,235,000,000 (as such amount is indexed for inflation every 5 years by the SEC) or
more; (b) the last day of our fiscal year following the fifth anniversary of the date of the first sale of equity securities pursuant
to an effective registration statement under the United States Securities Act of 1933, as amended (the “Securities Act”);
(c) the date on which we have, during the previous 3-year period, issued more than US$1,000,000,000 in non-convertible debt; or (d) the
date on which we are deemed to be a “large accelerated filer”, as defined in Exchange Act Rule 12b-2. We expect to continue
to be an emerging growth company for the immediate future.

Generally, a registrant that registers any class of
its securities under Section 12 of the Exchange Act is required to include in the second and all subsequent annual reports filed
by it under the Exchange Act a management report on internal control over financial reporting and, subject to an exemption available to
registrants that are neither an “accelerated filer” or a “large accelerated filer” (as those terms are defined
in Exchange Act Rule 12b-2), an auditor attestation report on management’s assessment of internal control over financial reporting.
However, for so long as we continue to qualify as an emerging growth company, we will be exempt from the requirement to include an auditor
attestation report on management’s assessment of internal controls over financial reporting in its annual reports filed under the
Exchange Act, even if we were to qualify as an “accelerated filer” or a “large accelerated filer”. In addition,
Section 103(a)(3) of the Sarbanes-Oxley Act of 2002 has been amended by the JOBS Act to provide that, among other things, auditors
of an emerging growth company are exempt from any rules of the Public Company Accounting Oversight Board requiring a supplement to the
auditor’s report in which the auditor would be required to provide additional information about the audit and the financial statements
of the company.

### STATUS AS A FOREIGN PRIVATE ISSUER
We are considered a “foreign private issuer”
purs