Company: FMST
Filing Date: 2025-07-08
Form Type: POS AM
Source: 0001171843-25-004344
Chunk: 11

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-08
Form: POS AM
Chunk 11
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 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.

Our Status as a “Foreign Private Issuer”

We are considered a “foreign private issuer”
pursuant to Rule 405 promulgated under the Securities Act. In our capacity as a foreign private issuer, we are exempt from certain rules
under the Exchange Act that impose certain disclosure obligations and procedural requirements for proxy solicitations under Section 14
of the Exchange Act. In addition, our officers, directors and principal shareholders are exempt from the reporting and “short-swing”
profit recovery provisions of Section 16 of the Exchange Act and the rules under the Exchange Act with respect to their purchases and
sales of our shares. Moreover, we are not required to file periodic reports and financial statements with the SEC as frequently or as
promptly as United States companies whose securities are registered under the Exchange Act. In addition, we are not required to comply
with Regulation FD, which restricts the selective disclosure of material information. For as long as we are a “foreign private issuer”
we intend to file our annual financial statements on Form 20-F and furnish our quarterly financial statements on Form 6-K