Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 153

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 7
Chunk 153
---
 of fully vested RSU’s.

                                                                 Management fees                   Director                   Share-based payments (Options)                              
                                                                                                                                                                                          
                                                                                                   fees                                                                                   
  Year ended March 31, 2024 – Paid or accrued:                                                                                                                                            
  Chief Executive Officer, Jason Barnard                         $                    248,019      $             -            $                                   209,647        457,666  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Chief Operating Officer, Christina Barnard                                          158,123                    -                                                104,824        262,947  
  Chief Financial Officer, Sead Hamzagic                                              19,500                     -                                                 66,600         86,100  
  Former Chief Financial Officers                                                     150,900                    -                                                131,030        281,930  
  Director and former Chief Financial Officer, Andrew Lyons                           -                          36,000                                            32,531         68,531  
  Director, Mike McLeod                                                               -                          56,000                                            32,531         88,531  
  Director, Johnathan More                                                            -                          36,000                                            32,531         68,531  
  Director, Douglas Mason                                                             -                          20,000                                            75,500         95,500  
  Former Director, Christopher MacPherson                                             -                          30,000                                            32,531         62,531  
                                                                 $                    576,542      $             178,000      $                                   717,725      1,472,267  

During the year ended March 31, 2023, the Company entered into a loan agreement with a related party to borrow $1,145,520, inclusive of a prior advance of $145,520 (collectively, the “ Loan”), included in short-term loans payable, with Jason Barnard, CEO, and Christina Barnard, COO, of the Company. The terms of the Loan have been amended several times, as detailed below:

Initial Terms(May 10, 2022): Interest rate of 8.35% per annum, payable monthly, with a maturity date of May 10, 2023.

Amendment 1(May 1, 2023): The interest rate was increased to 11.35% per annum. The maturity date was extended to May 10, 2024.

Amendment 2(April